Nvidia to invest $1 billion for 2.9% stake in Nokia amid push towards artificial intelligence — Here’s what we know

Jensen Huang’s Nvidia is planning to make an equity investment woth $1 billion in Nokia Oyj, as the AI chipmaker bets on the Finland-based company’s turnaround from mobile networking kit into artificial intelligence.

Nvidia will purchase 166 million shares of Nvidia at $6.01 apiece, getting a 2.9 per cent stake in the company, according to a statement by the the companies. In turn, Nvidia will give Nokia access to its chips to enhance the company’s for 5G and 6G networks.