Movement Alert｜Nokia Rises 3.07% in Pre-Market Trading, NVIDIA GTC Taipei Keynote Catalyzes AI Infrastructure Partnership

Market Focus

Jun 02

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.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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