On June 23, Nokia fell 7.48% in regular trading, trading at $13.52/share, with turnover of $333 million. The stock had initially surged over 4% earlier in the session following the announcement of its expanded partnership with Google Cloud.

On the news front, Google Cloud announced on June 22 an expansion of its collaboration with Nokia, integrating its Gemini AI models into the Nokia Assurance Center network software suite. The partnership will introduce six specialized AI agents designed to help telecom operators reduce operational costs, rapidly diagnose network faults, and drive network operations toward full automation. The platform is expected to launch in September. The company stated the agentic AI setup could cut resolution times by up to 80%.

However, the positive catalyst was quickly digested by the market. The stock has been in a sustained pullback since its June 3 high of $17.435, with prior tailwinds including JPMorgan's target price upgrade to $21 and the California AI Network Innovation Lab launch already fully priced in. Accumulated profit-taking intensified selling pressure, extending the stock's pullback trajectory.

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