Nokia launched its AI Networking Innovation Lab to help build and test faster, more reliable data center networks for large-scale AI workloads.
The lab works with major AI and cloud partners to validate real-world AI networking designs and develop next-generation infrastructure for AI.
Early partners include AMD, Keysight Technologies, Lenovo, Supermicro, and WEKA.
It has been a while since I have posted a Due Dilligence post here so buckle in because this is going to be a long one. No AI in this one either, this is all from the dome.
Here is my Original DD Post from 5 years ago and boy do I feel lucky that I have been able to build my position over time. A lot has changed since then, but some of it is still relevant.
So why has the share price increased and where is it going the rest of the year?
X users have been tracking recent $NOK options activity.
Calls have always been a dangerous game with $NOK, but these definitely caught my attention. There have been numerous examples of "unusual" options activity in the last 5 years, but I cannot remember a time when it was this big and this bullish.
These buyers could all be wrong. But big money players tends to know what they are doing.
So why are these calls being purchased? To frame this post, I wanted to address 5 rumors that have been circling Nokia recently and share my opinions.
If you are on this sub, you likely know that Nvidia bought $1B worth of Nokia shares in October of 2025. This is nearly a 3% stake in the company.
However, there are 2 things about this that have always struck me as odd.
First is that all of Nvidia's recent investments/partnerships (Marvell, Coherent, CoreWeave, Synopsys, Lumentum, and Nebius) have been $2B stakes. Why is Nokia's only $1b?
If you watch this Interview of Jensen Huang and Justin Hotard, you will notice it starts mid-interview now as do all of the other clips I can now find it.
Originally in this interview, Jensen started by saying that "no body knows communications better than Nokia" and that "he wishes the investment could have been $2B."
So maybe Nokia negotiated a staggered buy in. This would not be out of character for the organization. They have treated buybacks similarly in the last few years.
Conclusion: These calls could be coming from Nvidia insiders.
This may sound ridiculous at first, but this has been a rumor since early 2020.
Attorney General William Barr Publically Stated This years ago and it was a big part of why I originally entered a position in Nokia. This is why the Rip and Replace program exisits.
If you watch the Interview of Jensen Huang above, he is asked about the current administration and he reiterates that current US telecom is built on "foreign tech."
This is also the reason why most think the US gov will never buy a stake in Nokia. They will not buy a stake in a non-US company.
It has also been rumored that Nokia may move their HQ to the US. Not sure that is likely, but Nokia Pledging $4B in US Investment and Nokia Bell Labs Opening New HQ in New Jersey in 2028 could both be signs that this may eventually happen.
This could also explain why Nvidia did not buy all $2B at once. They are waiting for the US gov to buy their shares before investing the other $1B.
The thesis behind this rumor is that Nvidia + Nokia create a true competitor to Huawei in the aggregate. This timing of these calls with Trump's trip to China intrigue me.
Trump has a strong relationship with Finnish Prime Minister Alexander Stubb. This Article calls Stubb Trump's closest European confidant.
Conclusion: These calls could be coming from US Government insiders.
If you missed u/Mustathmir post in r/NOK from a couple days ago, he referenced Here that Deutsche Bank raised their Price Target on Nokia and referenced the "strong likelihood that this development has been driven by a significant deal with Google."
That money has to go somewhere, perhaps it is going to Nokia. Nokia has a solid history with the hyperscaler. They First Partnered with Google Cloud in 2020.
Conclusion: These calls could be coming from Google insiders.
This is a post about rumors, so this one is pretty light on details.
This post on X stating that Microsoft is investing $100B in Infrastructure and Hosting Services has gained some traction.
Nokia and Microsoft obviously have a long history with Microsoft buying Nokia's phone division back in 2014.
Conclusion: These calls could be coming from Microsoft insiders.
And finally the rumor I care least about and think matters the least short & long term.
Aschenbrenner is a German AI researcher and investor. He was part of OpenAI's "Superalignment" team before he was fired in April 2024 over an alleged information leak.
He then founded Situational Awareness LP, a hedge fund investing in companies involved in the development of AI technology and turned $225M into $5.5B.
Conclusion: These calls could be coming from Leopold Aschenbrenner.
All in all, exciting times currently and ahead with Nokia. Whether multiple or none of these rumors come to fruition, I am excited to see where the company goes in the coming years.
It has been quite the roller-coaster these last 5 years and I am sure there will be more highs and lows in the next 5. I look forward to experiencing them.
My general thesis from 5 years ago still remains accurate in my eyes - Nokia is undervalued and "one of the most captivating investment opportunities in the market today."
It has been a while since I have posted a Due Dilligence post here so buckle in because this is going to be a long one. No AI in this one either, this is all from the dome.
Here is my Original DD Post from 5 years ago and boy do I feel lucky that I have been able to build my position over time. A lot has changed since then, but some of it is still relevant.
With the recent surge in $NOK share price, we have a lot of new visitors on the sub which is great. So why has the share price increased and where is it going the rest of the year?
Not everyone here is on X, but users there have been tracking recent $NOK options activity.
Calls have always been a dangerous game with $NOK, but these definitely caught my attention. There have been numerous examples of "unusual" options activity in the last 5 years, but I cannot remember a time when it was this big and this bullish.
These buyers could all be wrong. But big money players tends to know what they are doing.
So why are these calls being purchased? To frame this post, I wanted to address 5 rumors that have been circling Nokia recently and share my opinions.
If you are on this sub, you likely know that Nvidia bought $1B worth of Nokia shares in October of 2026. This is nearly a 3% stake in the company.
However, there are 2 things about this that have always struck me as odd.
First is that all of Nvidia's recent investments/partnerships (Marvell, Coherent, CoreWeave, Synopsys, Lumentum, and Nebius) have been $2B stakes. Why is Nokia's only $1b?
If you watch this Interview of Jensen Huang and Justin Hotard, you will notice it starts mid-interview now as do all of the other clips I can now find it.
Originally in this interview, Jensen started by saying that "no body knows communications better than Nokia" and that "he wishes the investment could have been $2B."
So maybe Nokia negotiated a staggered buy in. This would not be out of character for the organization. They have treated buybacks similarly in the last few years.
Conclusion: These calls could be coming from Nvidia insiders.
This may sound ridiculous at first, but this has been a rumor since early 2020.
Attorney General William Barr Publically Stated This years ago and it was a big part of why I originally entered a position in Nokia. This is why the Rip and Replace program exisits.
If you watch the Interview of Jensen Huang above, he is asked about the current administration and he reiterates that current US telecom is built on "foreign tech."
This is also the reason why most think the US gov will never buy a stake in Nokia. They will not buy a stake in a non-US company.
It has also been rumored that Nokia may move their HQ to the US. Not sure that is likely, but Nokia Pledging $4B in US Investment and Nokia Bell Labs Opening New HQ in New Jersey in 2028 could both be signs that this may eventually happen.
This could also explain why Nvidia did not buy all $2B at once. They are waiting for the US gov to buy their shares before investing the other $1B.
The thesis behind this rumor is that Nvidia + Nokia create a true competitor to Huawei in the aggregate. This timing of these calls with Trump's trip to China intrigue me.
Trump has a strong relationship with Finnish Prime Minister Alexander Stubb. This Article calls Stubb Trump's closest European confidant.
Conclusion: These calls could be coming from US Government insiders.
If you missed u/Mustathmir post from a couple days ago, he referenced Here that Deutsche Bank raised their Price Target on Nokia and referenced the "strong likelihood that this development has been driven by a significant deal with Google."
That money has to go somewhere, perhaps it is going to Nokia. Nokia has a solid history with the hyperscaler. They First Partnered with Google Cloud in 2020.
Conclusion: These calls could be coming from Google insiders.
This is a post about rumors, so this one is pretty light on details.
This post on X stating that Microsoft is investing $100B in Infrastructure and Hosting Services has gained some traction.
Nokia and Microsoft obviously have a long history with Microsoft buying Nokia's phone division back in 2014.
Conclusion: These calls could be coming from Microsoft insiders.
And finally the rumor I care least about and think matters the least short & long term.
Aschenbrenner is a German AI researcher and investor. He was part of OpenAI's "Superalignment" team before he was fired in April 2024 over an alleged information leak.
He then founded Situational Awareness LP, a hedge fund investing in companies involved in the development of AI technology and turned $225M into $5.5B.
Conclusion: These calls could be coming from Leopold Aschenbrenner.
All in all, exciting times currently and ahead with Nokia. Whether multiple or none of these rumors come to fruition, I am excited to see where the company goes in the coming years.
It has been quite the roller-coaster these last 5 years and I am sure there will be more highs and lows in the next 5. I look forward to experiencing them.
My general thesis from 5 years ago still remains accurate in my eyes - Nokia is undervalued and "one of the most captivating investment opportunities in the market today."
Definitely a low quality post on my end but what a run this has been.
Looking at the chart, seems like $15+ and $25+ could be significant milestones as well.
We are probably all getting ahead of ourselves but my price target has been $63 by 2030 since 2021.
Still feel like we’re due for a pullback but enjoying it for the moment.
Nokia is selling its fixed wireless access business to Inseego in a deal expected to roughly double Inseego’s revenue and significantly expand its global footprint.
As part of the deal, Nokia will take about an 11% ownership stake in Inseego (including ~$30M investment) and shift focus toward higher-margin areas like AI-driven networks and 6G.
The partnership keeps Nokia involved through joint 6G and AI initiatives, while targeting a fast-growing FWA market projected to hit ~$43B in 2026 and ~$84B by 2031.
Reddit doesn’t like Market Screener so not sharing that link.
In his latest research note, analyst Janardan Menon confirms his positive recommendation. The broker Jefferies is keeping its Buy rating. The target price is increased from EUR 8.80 to EUR 10.70.
Argus upgraded Nokia (NYSE:NOK) to Buy from Hold and set a price target of $15.00. The stock currently trades at $10.46, near its 52-week high of $10.90, following a remarkable 114% gain over the past year.