NOK Stock Surges 40% on NVIDIA AI Deal & $1B Investment

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Key Drivers of the NOK Stock Move

NVIDIA announces $1 billion equity investment: On October 28, NVIDIA disclosed plans to acquire a 2.9% stake in NOK through a directed share issuance of 166.4 million new shares, launching a strategic alliance to accelerate AI-native mobile networks and 6G-ready infrastructure.
Strong Q3 earnings beat expectations: NOK reported Q3 EPS of $0.07 versus $0.06 expected (16.7% beat) and revenue of $5.6B versus $5.4B estimated (4.9% beat), with the CEO citing an “AI supercycle” while raising full-year 2025 profit outlook to EUR 1.7B-2.2B.
Relative performance explodes: NOK’s quarterly relative performance within its sector surged from the 13th percentile in early August to the 93rd percentile by October 28, outperforming 93% of technology sector peers.

Nokia (NOK) stock shares jumped 22% on October 28 alone after trading was halted pending the NVIDIA news, closing at $7.78 versus $6.37 the prior session. The stock has climbed 61% from its early October low of $4.82. The partnership positions Nokia’s Arc Aerial RAN Computer as the base for next-generation AI-native mobile networks, with support from T-Mobile and Dell. Jefferies upgraded to Buy on October 28, and JP Morgan had Overweight with a higher target price of $7.10. The convergence of favorable earnings momentum, AI positioning strategy, and institutional endorsement by the investment of NVIDIA is a change in fundamental market sentiment in the direction of Nokia’s 5G/6G buildout opportunity.

NOK Unusual Options

Options trading went haywire on Oct 28 after the NVIDIA news with crazy call buying in $7 to $10 calls up to January 2028 expiration. October 31 short-term $8 calls captured more than $180K premium received with open interest percentages surging to 290-7826%, which is a sign of crazy speculation of more to the up-side. A large $318K sweep was taken into January 2027 $10 calls. Dealers also opened up hedges, such as $341K in January 2027 $7 puts, implying smart positioning at the new valuation level.

NOK Seasonality

Buoyed by 10 years of history, NOK has weak October (50% positive years, median -1.6% change) and September (40% positive, median -3.9%) seasonal trends. January is the most seasonally affected month (80% positive years, median +3.8%), with July (70% positive, +2.0%) and May (50% positive, +2.7%) following suit. This October rally contradicts historical weakness and is most likely due to event-driven catalysts dominating seasonal trends.

NOK Relative Performance

NOK’s quarterly relative strength within the technology sector has undergone a dramatic reversal. From August 1 through late September, the stock languished in the 15-27th percentile, underperforming three-quarters of sector peers. Beginning in late September, momentum accelerated sharply: by October 1, NOK reached the 35th percentile; by October 10, the 60th percentile; by October 23 (earnings day), the 85th percentile; and by October 28 (post-NVIDIA announcement), the 93rd percentile. This represents sector leadership emerging over just eight weeks.

How to Track NOK Live With TrendSpider

Monitor NOK‘s volatile price action and institutional activity in real-time with TrendSpider’s comprehensive toolkit:

Support/resistance levels: Track key technical zones at $7.00 (breakout level), $6.00 (prior resistance), and $5.50 (support).
Unusual options flow: Watch for continued institutional positioning through calls and puts signaling conviction or profit-taking.
Fundamentals dashboard: Monitor the revised profit guidance and cash conversion metrics against Nokia’s AI infrastructure revenue ramp.