HELSINKI, May 21, 2026, 12:02 EEST
- Nokia shares slipped in Helsinki. The company had launched a new AI Networking Innovation Lab in Sunnyvale.
- The stock traded near 11.650 euros, off roughly 0.7% from the last close. The OMX Helsinki 25 edged up.
- Nokia surged to a 16-year high in April after AI and cloud bookings drove a rally in the stock following its earnings report.
Nokia Oyj slipped in Helsinki on Thursday, retreating after recent AI-fueled gains. The Finnish telecom gear maker opened a new U.S. lab as it targets more data-centre networking contracts. Shares last changed hands at 11.650 euros versus Wednesday’s 11.735-euro close. Day’s range ran from 11.550 to 11.715 euros, per Investing.com figures.
This trailed the local market, which held up better. The OMX Helsinki 25, which tracks the 25 top-traded stocks in Helsinki, was up 0.06% at 6,389.30, based on Nasdaq numbers.
Nokia picked this timing as it tries to show investors that AI infrastructure demand is becoming a bigger factor. On Thursday, the company said its AI Networking Innovation Lab in Sunnyvale, California, would let partners test and validate data-center network architectures for large-scale AI training and real-time inference. That means systems for live decision-making after models have been trained.
Nokia named AMD, Keysight, Lenovo, Nscale, Supermicro and Weka as initial tech partners in its new lab. Rudy Hoebeke, vice president of software product management at Nokia, called it a “major milestone.” AMD’s Travis Karr said a focus on “open, standards-driven” tech could help customers steer clear of lock-in. GlobeNewswire
Nokia shares have surged this year. Last month, Reuters said the stock hit its highest since 2010 after first-quarter comparable operating profit jumped 54% to 281 million euros. That beat the 250 million euro average analyst estimate in an Infront poll.
Nokia reported net sales from AI and cloud customers up 49% in the first quarter, with 1 billion euros in orders from those segments. The company left its full-year comparable operating profit guidance unchanged at 2.0 billion to 2.5 billion euros.
Nokia bumped up its 2026 outlook for Network Infrastructure, now seeing growth of 12% to 14%. The company expects Optical Networks and IP Networks combined to post an 18% to 20% gain. CEO Justin Hotard said Nokia is putting money into the business to meet faster “accelerating demand” from AI and cloud buyers. Nokia Corporation | Nokia
Nokia said in a late Wednesday filing it transferred 975,289 treasury shares for equity-based incentive plans. The company said it now holds 132,353,333 own shares after the move.
Cisco shares set a new high last week as the company boosted its annual revenue outlook. The U.S. networking group said it has taken in $5.3 billion of AI-related orders from hyperscalers so far this fiscal year and expects to hit $9 billion by year’s end. Competition in the space is tight.
Arista Networks is in focus for investors keeping an eye on AI network spending. Back in February, Reuters said demand was up for Arista’s Ethernet switches and routers as companies pushed more money into AI infrastructure.
AI bets may be running ahead of what Nokia can deliver every quarter. The company has pointed to risk from tougher competition, shifting customer spend, roadmap deadlines, chip procurement, and supply chain snags. A drop in cloud capex or slow commercial rollout after lab trials could leave the stock gains looking thin.
