HELSINKI, June 23, 2026, 15:05 (EEST)
Nokia shares dropped in Helsinki on Tuesday after jumping on Wall Street. The move comes after news of a Google Cloud deal. Nokia is putting Gemini-powered AI into its network software under the new partnership.
Nokia shares in Finland dropped 2.5% to 11.98 euros in a delayed quote at 14:51 local time, moving between 11.65 and 12.10 euros. In New York, Nokia’s ADR jumped 6.97% to close at $14.43 on Monday, breaking a three-day slide.
Nokia shares dropped as investors stopped seeing the company as an AI play and went back to viewing it as a traditional telecom-equipment firm. The drop happened during normal trading in Helsinki. Nasdaq’s main equities market in Helsinki runs from 10:00 to 18:30 local time.
OMX Helsinki 25 fell 1.39% to 6,237.31, Nasdaq index data showed, with the whole Finnish market turning lower. Nokia’s drop was part of the broader move, not an isolated company slump.
Google Cloud and Nokia said Monday they will bring Google’s Gemini AI models into Nokia’s Assurance Center, which telecom operators use to keep tabs on their networks. Nokia is working on six AI agents using Gemini tech, focused on routing, event triage, performance, anomaly checks, repair suggestions, and dashboard setup.
Nokia said its router and event-triage agents already work. The first certified agent pack will hit Google Cloud Marketplace in September, with more packs set for release from late 2026 to 2027.
Nokia’s senior vice president for autonomous networks, Vivek Jaiswal, said in the announcement, “The AI era demands a new kind of network.” Sridhar Gollapudi, who leads Google Cloud’s global telco market, said agentic AI is “a fundamental shift” in network management. Google Cloud Press Corner
Nokia execs told Fierce Network at DTW Ignite in Copenhagen that the company’s new tools aim to help operators avoid manual troubleshooting but still leave key decisions to human engineers. Rodrigo Brito, who heads secure and autonomous networks for Nokia, said there are more agents coming beyond the first six, like topology, service-design, and security agents.
The latest deal adds to the earlier boost for Nokia this year. Reuters said in April that Nokia’s comparable operating profit jumped 54% to 281 million euros for the first quarter, beating forecasts. Sales to AI and cloud clients climbed 49%. Nokia also logged 1 billion euros in fresh orders from those customers.
Network and optical infrastructure is where the competitive read-through is showing up, with investors looking at Nokia alongside Ericsson, Ciena and Cisco. Reuters in April wrote about Nokia’s jump compared to those peers, following its earnings beat. The piece pointed to data centre optical demand as the core driver.
Skepticism remains around the savings story. Jaiswal told Fierce operators might have to adjust the tools for each network, and warned some manual work could just shift to AI costs, not vanish. If customers are slow to test, or if AI costs stay up, this new deal might fall short for a stock that’s already rallied.
AI stocks struggled on Tuesday as the market mood shifted. According to Reuters, the STOXX 600 in Europe lost 1.3% as traders took a harder look at companies that had run up on AI hopes. The European tech sector dropped 3.4%.
