Nvidia to Take $1 Billion Nokia Stake, Supply Network AI Chips

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 center technology in its own AI infrastructure, they said.

Nokia, best known ...