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 centre technology in its own AI…