Helsinki, May 27, 2026, 14:05 (EEST)
Nokia shares in Helsinki hovered close to a new 52-week high on Wednesday, with buyers still in after early gains slipped. The Finnish network-equipment maker was up 0.1% at 13.85 euros as of 13:32 EEST, according to Google Finance, after hitting 14.22 euros earlier.
Nokia’s American depositary receipts in New York closed Tuesday at $16.46, climbing 6.4% for their third gain in a row and hitting a 52-week high after a stronger U.S. session. Trading volume was about twice the 50-day average, according to MarketWatch.
The stock is trading less like a traditional telecom-equipment play and more like an AI data-center supplier now. Broader markets were up, with Reuters data showing the STOXX 600 adding 0.47% and the Nasdaq Composite gaining 1.19%, but the latest move in Nokia has been driven by demand for optical and IP networks—key to moving data through fiber and internet-routing equipment.
Nokia shares moved Wednesday with no fresh earnings news. A managers’ transaction notice filed late Tuesday said senior manager Konstanty Owczarek bought 37,405 shares on the NYSE at a volume-weighted average of $15.9878.
April’s Q1 earnings is still the main focus. Nokia said sales to AI and cloud customers jumped 49%, now making up 8% of total sales. Revenue from Optical Networks was up 20%. CEO Justin Hotard said Nokia is “increasing our growth assumption” for Optical and IP Networks, with more investment to meet demand from AI and cloud buyers. Nokia Corporation | Nokia
Comparable operating profit at Nokia jumped 54% to 281 million euros last month, beating the 250 million euros average forecast from analysts, Reuters said. Nokia also reported it landed 1 billion euros in orders from AI and cloud buyers. “Tracking somewhat above the mid-point” of the company’s full-year comparable operating profit target range of 2.0 billion to 2.5 billion euros, Hotard said at the time. Reuters
Nokia opened its AI Networking Innovation Lab in Sunnyvale, California last week. The company said it will use the lab to test AI data center networks with partners like AMD, Keysight, Lenovo, Nscale, Supermicro, VIAVI and Weka. Keysight’s Ram Periakaruppan said they are pushing the AI networks in “real-world conditions”. Nokia’s Rudy Hoebeke said they want to cut deployment risk. Nokia Corporation | Nokia
Nokia’s rivals are shifting as AI moves the targets. The company is still paired with Ericsson in mobile gear, but AI bets now push Nokia closer to optical and data centre players like Ciena and Arista. Reuters company coverage pointed out that Ericsson missed first-quarter core profit forecasts in April with higher AI chip costs and weaker North America sales holding results back.
Nokia’s rally has blown through most analyst targets. The average 12-month price target on Investing.com is 9.375 euros, with the highest at 14 euros and the low at 4.65 euros. That’s all under Wednesday’s intraday high. The stock doesn’t have much room if AI order conversion or legacy telecom margins fall short.
Infrastructure could slow things down, too. Hotard told Reuters in April Europe “doesn’t have the infrastructure” for AI data centres. He said both better connectivity and more data-centre capacity are needed. If there’s a drag on power, permits or cloud spending, the optical-networking rally might lose steam, even more than the stock price now suggests. Reuters
Nokia’s second-quarter and half-year numbers are due July 23. Before that, the stock may hinge on AI-cloud order talk, analyst target moves and whether the latest 52-week high sticks as support or just fades in heavy action.
