Nokia Oyj (NOK) surged 5.03% intraday, driven by Morgan Stanley's upgrade of the stock to "overweight" from "equal-weight." The brokerage cited AI-driven demand and Nokia's strategic partnerships, including with NVIDIA, as key catalysts for the upward revision.
Morgan Stanley highlighted Nokia's growing revenues from AI and cloud services, which account for 6% of group sales but are expanding rapidly due to the data center construction boom. The firm also noted Nokia's undervalued pivot to AI and geopolitical trends favoring Western infrastructure suppliers.
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