Nokia says Q2 AI and cloud sales doubled, lifting profit

TL;DR: Nokia said its second-quarter profit beat expectations after sales to AI data centre and cloud customers doubled. The company said it has been shifting toward fibre-optic equipment sales to large technology companies building AI infrastructure, while higher memory chip prices still affected telecom equipment makers.

Nokia said in the second quarter that profit came in above expectations, helped by stronger sales from AI and cloud-related customers. The company said sales in that segment doubled during the quarter.

Nokia said it has been shifting its focus toward selling fibre-optic equipment to large technology companies building AI data centres. That shift reflects demand from companies expanding infrastructure for artificial intelligence workloads and cloud capacity.

Nokia also said it was affected by a rise in memory chip prices. The company said AI companies had cornered the memory chip market, and that price increase had an impact on telecom equipment makers.

Related questions

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