Movement Alert｜Nokia Oyj Rises 3.04% in Regular Trading, CEO Signals AI Data Center Buildout Still in Early Stages

Market Focus10-06 22:15

On October 6, Nokia Oyj rose 3.04% in regular trading, trading at $10.5117 per share, with Turnover of $165 million.

The move followed remarks from CEO Justin Hotard, who said the tech industry would build data centers twice as fast if not for supply constraints, adding that AI infrastructure buildout remains in the early stages and is far from overbuild territory.

Hotard cited shortages of key memory chips and energy among the limiting factors. Nokia has pivoted toward AI infrastructure supply in recent quarters, with shares up about 130% over the past year. The latest commentary reinforced visibility on long-term demand for its networking and data center offerings, even as broader supply chains remain tight.

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