Nokia beats profit estimates as AI data center demand surges

Sales to AI and cloud customers jumped 123% as the Finnish networking giant leans further into hyperscaler spending Nokia’s third-quarter profit came in ahead of analyst expectations. The reason was not phones, and not the cell towers people still picture when they hear the name. Instead, the Finnish company rode a wave of spending on data center networking gear, the plumbing that connects the servers behind the artificial intelligence boom. Nokia reported net sales of €5.154 billion for the quarter. That is a 10% rise from a year earlier on a reported basis, or 9% once adjusted for comparability. The standout figure came from AI and cloud customers. Sales to that group climbed 123% year over year, which means the business more than doubled in twelve months.

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