Nokia (NOK) Shares Up 62% Year to Date After AI Demand

Nokia (NOK) shares closed at $10.60 on September 17, 2023, reflecting a year-to-date increase of about 62% and over 130% in the last 12 months. Jim Cramer recommended buying Nokia stock on September 16, highlighting its trading at 22 times forward earnings—lower than the typical 30 times for AI stocks. Nokia reported negative free cash flow of $835 million in Q2. This momentum is bolstered by an expanded partnership with Microsoft, which promises faster AI data preparation, resulting in a 3.8% increase in shares after the announcement. This matters for investors as Nokia's AI infrastructure strategy is attracting significant market attention, indicating potential growth.

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