On June 3, Nokia rose 3.41% in regular trading, reaching $17.4279/share, with trading volume of $1.212 billion.

On the news front, NVIDIA's GTC Taipei conference was held with CEO Jensen Huang delivering a keynote showcasing the latest developments in AI infrastructure ecosystem collaboration. This event further amplified the ongoing strategic catalyst from NVIDIA's approximately $1 billion equity investment acquiring roughly 3% of Nokia's shares, reinforcing Nokia's positioning as a core AI optical networking supplier.

On the fundamentals side, Nokia reported first-quarter adjusted operating profit surging 54% year-over-year, with AI and cloud business revenue growing 49%. Morgan Stanley previously raised its target price from 11 euros to 14 euros with an overweight rating, citing Nokia's unique advantage in the data center spending wave driven by AI and cloud expansion. The stock has accumulated gains exceeding 140% year-to-date as the market reprices Nokia from a legacy telecom equipment maker to an AI infrastructure play.

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