Subject to customary closing conditions, NVIDIA will subscribe for the shares at $6.01 per share, becoming a 2.90% shareholder of Nokia.

According to a statement from Nokia on Tuesday, the investment forms part of a strategic partnership expected to create value for both companies.

Nokia will use the proceeds to advance trusted connectivity for the artificial intelligence (AI) supercycle and other general corporate purposes, including accelerating development of its 5G and 6G RAN software to run on NVIDIA’s architecture.

The two companies will also collaborate on AI networking solutions and explore opportunities to integrate Nokia’s data centre switching and optical technologies into NVIDIA’s future AI infrastructure.

–ChannelAfrica–