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NOK stock closed at $16.25 on June 2, up 9.5% as the Finnish telecom infrastructure giant continues to ride strong demand for artificial intelligence data center equipment and cloud networking technology.
Quick Facts
- Stock price up 9.5% to $16.25 on June 2, 2026
- Q1 2026 AI and Cloud revenue surged 49% year-over-year
- Nokia secured €1 billion ($1.17 billion USD) in new AI orders in Q1 alone
- Shares have gained 140% so far this year, hitting a 16-year high
Strong Q1 Earnings Drive the Rally
Nokia’s latest gains reflect momentum built on April 23 Q1 2026 earnings, when the company reported that AI and Cloud customer sales grew 49% year-over-year. The company also announced €1 billion of new AI and Cloud orders during the quarter, signaling sustained demand from data center and cloud infrastructure operators. These figures represent a sharp pivot for Nokia, which has struggled in consumer handsets for years but is now recognized as a critical supplier of optical networking and infrastructure gear for AI model training and deployment. Similar momentum is lifting peers in AI infrastructure, reflecting broader spending on next-generation data centers.
Why AI Infrastructure Matters for Nokia
Data centers powering generative AI and large language models require massive optical fiber networks to connect servers, storage, and accelerators at ultra-high speeds. Nokia’s Optical Networks division makes the switching and transport equipment that underpins this infrastructure. The company’s 49% growth in AI-related revenue came from fresh orders for routers, switches, and software that help cloud providers and hyperscalers build out their AI compute capacity. Nvidia’s $1 billion investment in Nokia in October 2025 has also boosted investor confidence in the company’s role as an indispensable AI infrastructure partner.
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What Investors Are Watching Next
With NOK stock up 140% year-to-date, the company faces expectations that it will sustain double-digit growth in AI revenue through 2026 and beyond. Analysts have raised price targets and upgraded outlooks, citing the durability of demand from cloud giants building competitive AI capabilities. The 9.5% single-day jump on June 2 reflects continued bullish sentiment, though some investors are watching for signs that AI spending may slow or consolidate in specific regions. Nokia’s next earnings report and any guidance on Network Infrastructure growth—now expected at 12% to 14% annually—will be key barometers of the rally’s staying power.
Sources
- ChartMill — Confirmed NOK stock price of $16.25 and 9.5% daily gain on June 2.
- Nokia Official Newsroom — Q1 2026 earnings report (April 23, 2026) showing 49% AI & Cloud revenue growth and €1 billion in new orders.
- Yahoo Finance — Reported 140% year-to-date stock gain and confirmation of strong AI-driven momentum.
- Forbes — Updated guidance for Nokia Network Infrastructure growth of 12% to 14% and safer bet positioning on AI infrastructure.
