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Nokia announced on tuesday that nvidia is taking a $1 billion stake in the networking company, the latest partnership for the artificial intelligence chipmaker. Nokia will issue around 166 million new shares to nvidia priced at $6.01 each, giving the us chipmaker a 2.9% ownership in the company, both firms said in a joint statement on tuesday. Nvidia will pay $1 billion for a stake of 2.9% in nokia as part of a deal focused on ai and data centers, the finnish telecom equipment maker said on tuesday as its shares hit their highest level.

What the two companies are flaunting on stage this week at nvidia's gtc event in washington, dc, significantly ups the tempo Nvidia, in a sign of its growing muscle and influence, is taking a.

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