Nvidia plans to invest $1bn into telecoms operator Nokia in a move that will see the US chip giant become one of the Finnish group’s largest shareholders and marks a strong endorsement of its strategy to expand into artificial intelligence.
In a statement on Tuesday Nokia said that Nvidia’s strategic investment will see the two companies work together to incorporate AI into telecoms networks and collaborate on data centre infrastructure.
Nvidia will take a 2.9 per cent stake in the telecoms group in return for its investment, with Nokia issuing 166,389,351 new shares directly to Nvidia.
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