On June 2, Nokia rose 3.05% in regular trading, trading at $16.72/share, with trading volume of $677 million.

On the news front, the NVIDIA GTC Taipei conference officially commenced the previous day, where Jensen Huang delivered a keynote speech showcasing the latest developments in AI infrastructure ecosystem partnerships. This event further catalyzed market enthusiasm, compounding the ongoing positive sentiment from NVIDIA's earlier strategic investment of nearly $1 billion to acquire approximately 3% of Nokia's equity, reinforcing their collaboration in 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 previously raised its target price from EUR 11 to EUR 14 and assigned an Overweight rating, citing Nokia's unique positioning to benefit from the data center spending wave driven by AI and cloud expansion.

Within the Communication Equipment sector, the broader sector showed strength. Among peers, Lumentum rose 7.23%, Applied Optoelectronics rose 7.26%, Cisco rose 3.49%, Arista Networks rose 1.79%, while Ondas Holdings fell 1.3%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)