HELSINKI, August 8, 2026, 20:08 EEST — Trading finished for the day.
- Nokia closed on Friday at €8.156, up 2.5% for the week.
- A Southeast Asian AI platform has been launched with the goal of reaching one gigawatt of computing power. Financial details of the contract were not revealed.
- Derived estimate: Nokia’s projected AI order conversion over the next 12 months is approximately €1.4 billion.
Nokia Oyj HEL:NOKIA finished Friday at €8.156, marking a 2.5% increase for the week. However, the weekly advance concealed a swift turnaround, as shares gave back the bulk of Tuesday’s 6.5% surge over the last three sessions.
The investor benchmark has shifted to order conversion instead of headline order figures. Nokia secured €2.8 billion in AI and cloud contracts during the second quarter. The company’s management anticipates that roughly 50% will contribute to revenue inside 12 months.
Based on company guidance, this suggests about €1.4 billion in revenue. The figure amounts to 29.1% of sales for the second quarter and corresponds to 7.3% of annualised sales for the period. This is an inferred estimate, not a figure for additional revenue guidance.
The Zankore launch on Thursday kept attention on demand. Indosat Ooredoo Hutchison IDX:ISAT, Ooredoo Q.P.S.C. QSE:ORDS, Nokia, and NVIDIA Corporation NASDAQ:NVDA are planning an AI platform with a goal of one gigawatt total capacity. The initial phase aims for 200 megawatts to be operational in the first half of 2027.
Nokia is set to supply AI-native networking to the platform. Chief Executive Justin Hotard described it as “the trusted connectivity fabric that underpins this new generation of AI infrastructure.” Details on contract value or projected revenue were not disclosed by Nokia. Nokia Corporation | Nokia
The weekly price comparison indicates investors continued to prefer the more focused optical-networking exposure.
| Listed company | Friday close | Weekly change | Friday move |
|---|---|---|---|
| Nokia Oyj HEL:NOKIA | €8.156 | +2.5% | -2.0% |
| Telefonaktiebolaget LM Ericsson Class B STO:ERIC-B | SEK 96.70 | +3.1% | -0.5% |
| Ciena Corporation NYSE:CIEN | $412.39 | +9.4% | +2.1% |
Nokia shares saw fluctuations, climbing to €8.626 on Tuesday before dropping 5.4% by Friday, covering both sessions after the Zankore announcement.
The most recent operating data sheds light on the difference in performance.
| Company and reporting period | Revenue growth | Company-adjusted margin | Demand indicator |
|---|---|---|---|
| Nokia, calendar Q2 | 8.0% growth as reported | Comparable operating margin 9.0% | AI and cloud sales surged 105%; €2.8 billion in orders |
| Ericsson, calendar Q2 | 6.0% decline reported; organic revenue down 1.0% | Adjusted EBIT margin at 12.4% | Three out of four market areas delivered organic growth |
| Ciena, fiscal Q2 ended May 2 | Revenue rose 39.5% | Adjusted operating margin at 19.5% | Optical networking made up 70% of total revenue |
The firms report using varying adjusted metrics as well as distinct reporting timelines.
Nokia posted an 18% increase in comparable operating profit, which reached €434 million. The comparable operating margin was up to 9.0%. The reported operating margin, though, stood at negative 1.0% due to accelerated restructuring efforts.
The difference is significant. Infrastructure sales are rising due to stronger AI and cloud demand, yet reported profit figures remain affected by restructuring expenses. Network Infrastructure sales climbed 12%, as Mobile Infrastructure saw a 6% gain.
Analyst recommendations published so far are split, even with the broadly positive consensus.
| Research firm | Recommendation | Price target | Latest published action |
|---|---|---|---|
| Deutsche Bank AG ETR:DBK | Buy | €11.50 | July 27 |
| Barclays PLC LON:BARC | Underweight | €8.00 | July 27 |
| UBS Group AG SWX:UBSG | Neutral | €9.65 | July 24 |
| Skandinaviska Enskilda Banken AB (STO:SEB-A) | Buy | €12.00 | July 16 |
Nokia holds an “Outperform” rating, according to a consensus from 23 analysts. The group’s average price target of €10.32 suggests a 26.6% potential rise from Friday’s close. However, individual projections span from €4.65 to €18, reflecting wide differences in opinions on both execution and valuation. MarketScreener
Nokia disclosed on Friday that it granted 957,142 treasury shares to participants in its employee incentive program, according to its latest stock-exchange filing. The distributed shares represent approximately 0.017% of Nokia’s 5.74 billion total shares outstanding.
No Nokia investor events are planned for the week ahead.
| Week-ahead checkpoint | Verified reference |
|---|---|
| Helsinki trading resumes | Monday, August 10, at 10:00 EEST |
| Session low marker | Friday’s €8.060 intraday trough |
| Turnaround indicator | Tuesday’s €8.626 end price |
| Upcoming investor event | September 2 in London |
| Forthcoming earnings report | October 22 at 11:30 EEST |
Investors are set to focus on order news and supply dynamics. Nokia forecasts third-quarter sales to rise by 3% to 7% compared to the previous quarter. The company anticipates comparable operating profit will be mostly unchanged, with a notable increase projected in the fourth quarter.
Risks: Zankore has not revealed the size of its financial contribution. Supply remains the key bottleneck for the industry. Fluctuations in currency, payment schedules from customers, and timing of deliveries could postpone conversion. Nokia anticipates limited sequential growth in profits in the third quarter.
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