Nokia to invest $4 billion in US; here’s how the funds will be used

Nokia has announced plans to invest $4 billion in the United States. According to a report by the news agency Reuters, this investment by the Finnish telecom equipment maker will focus on research, development and production to advance artificial intelligence (AI)-driven network connectivity. The company has confirmed that $3.5 billion of the total investment will be dedicated to R&D. Meanwhile, the remaining $500 million will be allocated to manufacturing and capital expenditures in various states, including Texas, New Jersey, and Pennsylvania, the report added. Nokia, which runs several sites across North America and owns Bell Labs in New Jersey, also announced a new strategy which is focused on simplifying operations and increasing its use of AI.