Nokia Oyj reported Q3 2026 sales of €5,154 million and net income of €152 million, while advancing AI-RAN and fiber access products with partners including NVIDIA, Supermicro, Elisa and Arelion. The expanded AI-RAN collaboration with NVIDIA applies AI directly within 5G radio processing and extends governed AI agents across radio, core, transport and cloud networks. The article says this ties Nokia's portfolio more closely to AI-driven traffic rather than only to traditional operator capex cycles. Key risks flagged include optical and semiconductor lead times of 12 to 18 months, free cash flow pressure and dependence on hyperscalers. The analyst storyline assumes revenue reaching €24.1 billion and earnings of €2.7 billion by 2029, based on 5.7% annual revenue growth.
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