Infinera stock soars on $2.3 billion Nokia acquisition

Network provider Infinera (INFN) saw its shares soar on Friday after it agreed to be acquired by Nokia (NOK) for $2.3 billion. The investment is seen as Nokia's attempt to further get in on artificial intelligence.

Josh Lipton and Julie Hyman put the move in the context of Nokia's other investments.

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This article was written by Gabriel Roy

Video transcript

Network provider in stock, soaring today after agreeing to be acquired by Nokia for $2.3 billion.

So basically, this is Nokia's attempt to get in on a I further and will, according to some analysts, be competing more with the likes of Cisco and Sienna, which are networking equipment companies as well.

This is the biggest deal that we have seen from Nokia since it bought Alcatel Lucent back in 2016.

That was a much bigger deal, but nonetheless we haven't seen a deal like this for in a while.

No, I mean I know K CEO here saying to call reporters, um, you guessed it.

It's about a I Julie A. I, uh, is driving significant investments in data centres at the moment, and one of the key attractions of this acquisition, they're saying, is that it significantly increases our exposure to data centres.

I do think it's interesting as Bloomberg analyst, pointing out just how it does potentially maybe make some shifts in the competitive landscape here, calling out, you know, Cisco and Sienna.

There