Nokia Corporation (NYSE:NOK) stock fell Wednesday, cooling off after a sharp rally sparked by Nvidia Corp.’s (NASDAQ:NVDA) $1 billion investment announced Tuesday.
The Finnish telecom giant followed up with fresh news today, revealing a strategic partnership with U.S.-based Zayo Group Holdings Inc. to expand high-speed network infrastructure across North America.
The company announced it will deploy a next-generation IP network for Zayo, using its FP5-powered routers to deliver faster, more secure, and scalable connectivity.
Related: Why Is Nvidia Investing $1 Billion In Nokia’s AI Future?
The first rollout has begun in New York and New Jersey, with plans to expand to dozens of additional markets.
Zayo’s global network spans 19 million fiber miles and connects over 1,500 data centers.
The upgrade aims to boost reliability and support high-capacity 400G and 800G services for cloud and edge computing.
Details of Nvidia’s $1 Billion Investment
On Tuesday, Nokia announced a $1 billion strategic investment from Nvidia, which will acquire a 2.9% stake and collaborate on AI networking and next-generation telecom solutions.
The partnership aims to accelerate development of 5G and 6G radio software on Nvidia architecture and introduce an AI-RAN product built on Nvidia’s new Arc Aerial platform.
T-Mobile US, Inc. (NASDAQ:TMUS) and Dell Technologies Inc. (NYSE:DELL) are joining the initiative to advance AI-native 6G networks. Nokia said the funds will strengthen its roadmap for the coming “AI supercycle” and support its long-term growth strategy.
NOK has a 52-week high of $8.19 and a low of $3.91. The stock is up roughly 70% year-to-date and trades near the upper end of its annual range.
Price Action: NOK shares were trading lower by 4.63% to $7.410 at last check Wednesday.
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