Stock Track | Nokia Oyj Soars 5.03% in Pre-Market as Morgan Stanley Upgrades on AI-Fueled Demand

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Nokia Oyj (NOK) surged 5.03% in pre-market trading, reflecting strong investor optimism following a bullish analyst note.

Morgan Stanley upgraded Nokia to "Overweight" from "Equal Weight," citing the company's growing exposure to artificial intelligence (AI) and cloud services. The brokerage highlighted Nokia's strategic partnerships, including with NVIDIA, and rapid growth in AI/cloud revenues, which now account for 6% of group sales. The upgrade also noted Nokia's undervalued pivot to AI and geopolitical trends favoring Western infrastructure suppliers.

Additional catalysts include stabilization in Nokia's mobile networks division and the data center construction boom, which is expected to further boost demand for its optical and IP networking solutions.

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