On June 2, Nokia rose 3.07% in pre-market trading, trading at $16.75/share, with trading volume of $11.86 million.

On the news front, NVIDIA's GTC Taipei conference officially convened the previous day, with CEO Jensen Huang delivering a keynote showcasing the latest developments in AI infrastructure ecosystem partnerships. This event further catalyzed the strategic investment by NVIDIA, which previously spent nearly $1 billion to acquire approximately 3% of Nokia's equity, reinforcing confidence in their collaboration on AI network infrastructure.

On the fundamental side, Nokia reported Q1 adjusted operating profit surging 54% year-over-year, with AI and cloud business revenue growing 49%. Morgan Stanley recently raised its target price from EUR 11 to EUR 14, assigning an overweight rating and designating Nokia as a top pick, citing the company's unique positioning to benefit from the data center spending wave driven by AI and cloud expansion. Additionally, company executive Konstanty Owczarek recently purchased 32,595 shares at an average price of $15.35, signaling insider confidence.

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