BofA raised the firm’s price target on Nokia (NOK) to $8.07 from $4.64 and keeps a Neutral rating on the shares after Nvidia (NVDA) announced it is investing $1B in new Nokia shares at a purchase price of $6.01, or EUR 5.16 per share. The investment comes in addition to an announced strategic partnership with Nvidia to enable next generation AI native mobile networks and AI networking infrastructure, notes the analyst, who views this partnership as a strategic inflection point that strengthens Nokia’s exposure to AI-native data center switching.
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