Movement Alert｜Nokia Rises 3.03% Overnight, NVIDIA GTC Taipei Conference Catalyzes Amid Ongoing Strategic Stake Benefits

Market Focus

Jun 03

On June 3, Nokia rose 3.03% overnight, trading at $17.38/share, with trading volume of $11.18 million.

On the news front, NVIDIA's GTC Taipei conference was held in recent days, with CEO Jensen Huang delivering a keynote address showcasing the latest developments in AI infrastructure ecosystem collaboration. This event compounds the ongoing positive impact of NVIDIA's earlier strategic investment of nearly $1 billion to acquire approximately 3% of Nokia's equity, collectively boosting the stock price.

On fundamentals, Nokia reported a 54% year-over-year surge in Q1 adjusted operating profit, with AI and cloud business revenue growing 49%. Morgan Stanley previously raised its target price from EUR 11 to EUR 14, assigning an Overweight rating, citing the company's unique positioning to benefit from the wave of data center spending driven by AI and cloud expansion.

(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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