Nvidia zet stilletjes 8% van haar portefeuille in op dit $10-aandeel

Nvidia’s (NASDAQ: NVDA) latest 13F suggests the chipmaker is making a much bigger statement with Nokia than a casual portfolio footnote.

In the filing submitted in February, Nvidia disclosed five equity holdings worth $13.1 billion in total, including 166.389 million Nokia ADRs valued at $1.0765 billion.

Dat plaatst Nokia op ongeveer 8.2% van Nvidia’s gerapporteerde aandelenportefeuille, waardoor het een van de meest betekenisvolle posities in de portefeuille is in plaats van een symbolische inzet.

Nokia stock (NYSE: NOK) last traded at $10.46.

Een signaal uit de portefeuille, geen nevenweddenschap

De omvang van de positie is belangrijk omdat deze op het snijpunt van twee verhalen zit.

Nvidia’s expansion beyond chips and Nokia’s attempt to reinvent itself as a core supplier for AI-era networks.

The position traces back to Nvidia’s October 2025 deal, when it said it would invest $1 billion in Nokia for a 2.9% stake at $6.01 a share.

The agreement was tied to a strategic collaboration aimed at AI-powered communications and Nokia’s data-center communications technology.

That is why this story is bigger than “Nvidia owns a telecom stock.”

Nvidia is using capital to gain influence in the network layers that will have to move, route and optimize far more AI traffic than today’s mobile systems.

Nokia’s own recent filings show that the company is leaning hard into that shift.

In its March 31, 2026, base prospectus, Nokia said T-Mobile US is partnering with Nokia and Nvidia to drive and test AI-RAN technologies within a commercial network.

Nokia also cited collaborations with Nvidia on AI-RAN innovation with SoftBank in Japan and Indosat Ooredoo Hutchison in Indonesia.

AI-RAN is de kernthese

De strategische logica is het duidelijkst te zien in de AI-RAN-laag.

On April 15, Nokia and Orange announced a new collaboration to develop and evaluate AI-RAN technologies powered by Nokia’s anyRAN 5G software and Nvidia AI infrastructure.

Nokia said the work is aimed at improving network performance, energy efficiency and new services such as integrated sensing and communication, while also supporting a software-defined path toward 6G.

For Nvidia, the attraction is obvious as if telecom networks need to become more programmable, more software-defined and more compute-intensive, then the companies that sit closest to that transition may matter as much as the legacy operators buying the gear.

The equity stake gives Nvidia not just a financial exposure, but a seat in the ecosystem it wants to shape.

Nokia stock: Why bulls like it

Bulls will argue that Nvidia is effectively validating Nokia’s next act.

A larger role in AI-RAN, optical networking and data-center connectivity could eventually create a new growth vector for Nokia if AI traffic keeps surging.

Nokia’s Q1 report and its latest partnership announcements suggest the company is at least building toward that market.

The cautious case is just as important as the technology remains early, broad 6G rollouts are still years away and telecom operators remain disciplined on capital spending.

The factors limit the near-term earnings impact.

That means Nvidia’s Nokia investment is best read as strategic validation today, not a clean forecast of material revenue tomorrow.