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Nokia profit doubles in 3rd quarter on AI spending
HELSINKI: Finnish telecoms equipment maker Nokia said Thursday profit almost doubled in the third quarter, boosted by investment in AI. Profit in the quarter rose to 156 million euros ($175 million) from 80 million in the same period the year before, while sales rose 10 percent to 5.2 billion euros, beating analyst expectations. The company said sales to artificial intelligence and cloud-networking clients rose 123 percent in the quarter from a year earlier. “Nokia’s strengths are uniquely suited to meet growing demands for AI infrastructure that is larger, more distributed and hyperconnected,...
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