Nvidia Invests $1 Billion in Nokia for 5G/6G Technology Partnership
By
kjhughes
Toasted to a respectable shade. No regrets, no crumbs left.
Summary
Nvidia is investing $1 billion in Nokia, acquiring a stake in the 5G equipment maker. The investment caused Nokia's shares to surge 22% and includes a strategic partnership to develop next-generation 6G cellular technology. Nokia will use the proceeds to fund AI initiatives and adapt its 5G and 6G software to run on Nvidia's chips.
Key quotes
· 5 pulledNvidia is taking a $1 billion stake in the networking company, the latest partnership for the artificial intelligence chipmaker
Shares of Nokia soared 22% higher following the news
Nokia will issue more than 166 million new shares and will use the proceeds to fund its plans for AI and other general corporate purposes
The two companies also struck a strategic partnership to work together to develop next-generation 6G cellular technology
Nokia said that it would adapt its 5G and 6G software to run on Nvidia's chips, and will collaborate on networking technology
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