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Nvidia, Nokia Seal $1B AI RAN Deal, Stock Soars

6/28/2026

29 3 Full Breakdown

Summary

Nvidia Partners Nokia

Nvidia signed a $1 billion partnership with Nokia to build an AI-enabled radio access network (AI RAN).
Nokia’s share price rose from $6 to nearly $14, a 133% increase and a 114% gain year-to-date.
Nokia projects 2026 network-infrastructure sales growth of 12%-14% and IP/optical revenue growth of 18%-20%.
In Q1, Nokia reported €4.5 billion revenue, up 2% YoY, and €295 million profit, up 93% YoY.

Summary

Micron Forecasts

Micron forecasts FY2026 Q4 revenue of $50 billion and earnings of $31 per share—a 342% rise—after a 15.7% revenue surprise and a 21.2% earnings surprise for Q3 FY2026.
Micron signed 16 customer agreements, 14 locking in at least $100 billion of pricing, with CEO Sanjay Mehrotra saying the deals will boost durability.
Micron’s stock has risen over 700% in the past year, 325% YTD, and reached a $1 trillion market cap last month.

Summary

European Banks AI

MSCI Europe Semiconductor Index’s forward P/E jumped to 45, the highest level since the global financial crisis.
Industrial firms exposed to AI trade at about 30 × forward earnings, while AI adopters sell at under 15 × forward earnings.
European banks target major AI gains, with Morgan Stanley estimating up to a 50 % productivity boost and Santander aiming for more than €1 billion AI-generated business value by 2028.

History

Historical Context

In 1999, the telecom boom after the 1996 Telecommunications Act pushed firms to invest over $500 billion in fiber, switches and wireless, inflating deals like Vodafone’s $202.8 billion merger. The bubble burst by 2000, leaving massive debt and bankruptcies. Nvidia’s $1 billion AI-RAN pact with Nokia mirrors that over-optimism, linking today’s AI spending to the same cycle.

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Nvidia Partners Nokia

Nvidia signed a $1 billion partnership with Nokia to build an AI-enabled radio access network (AI RAN).
Nokia’s share price rose from $6 to nearly $14, a 133% increase and a 114% gain year-to-date.
Nokia projects 2026 network-infrastructure sales growth of 12%-14% and IP/optical revenue growth of 18%-20%.
In Q1, Nokia reported €4.5 billion revenue, up 2% YoY, and €295 million profit, up 93% YoY.

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