Nokia will issue about 166 million shares to Nvidia at $6.01 apiece, giving Nvidia a 2.9% stake, the companies said in a statement on Tuesday. (Source: Bloomberg) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Nvidia Corp. plans to make a $1 billion equity investment in Nokia Oyj, as the AI sector’s kingmaker bets on the Finnish company’s pivot from mobile networking kit into artificial intelligence.

Nokia will issue about 166 million shares to Nvidia at $6.01 apiece, giving Nvidia a 2.9% stake, the companies said in a statement on Tuesday. Nvidia’s chips will be used to accelerate Nokia’s software for 5G and 6G networks and Nvidia will explore ways to use Nokia’s data center technology in its AI infrastructure, they said.

Nokia, best known for selling mobile network pa

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