Nvidia Corp. is taking a $1 billion equity stake in Nokia Oyj and plans to supply the telecom company with artificial-intelligence-powered computers for wireless networks. Nokia shares jumped the most in more than a decade.

Nokia will issue about 166 million shares to Nvidia at $6.01 each as part of the deal, giving Nvidia a 2.9% stake, the companies said in a statement. 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 centre technology in its own AI infrastructure, they said.

Nokia, best known for selling mobile network parts, has been pushing into data centres — a business that’s growing thanks to the artificial intelligence boom driving demand for computing capacity.

The move has paid off, helping Noki

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