Nokia bets on AI feuled data center boom in $2.3 billion Infinera deal

Nokia Oyj has agreed to buy Infinera Corp. in a $2.3 billion deal that will expand the company’s networking products for data centers and increase its presence in the US, a potentially key source of growth as the boom in artificial intelligence drives demand for server capacity.

“AI is driving significant investments in data centers at the moment, and one of the key attractions of this acquisition is that it significantly increases our exposure to data centers,” Nokia Chief Executive Officer Pekka Lundmark said in a call with reporters on Friday.