Nokia's AI Ambition: Pioneering the Next Internet-Like Boom

Nokia's CEO Justin Hotard views artificial intelligence (AI) as driving a long-term growth trend similar to the internet boom of the 1990s. Despite concerns over a potential bubble, demand for AI-driven data centers is soaring. Nokia's strategic AI pivot includes forming a dedicated AI division led by Pallavi Mahajan.

Nokia's CEO, Justin Hotard, is drawing parallels between the current surge in artificial intelligence (AI) and the internet boom of the 1990s, despite some warnings about a potential bubble.

Amidst concerns highlighted by major figures like Jeff Bezos and Sam Altman, Hotard remains optimistic, citing strong, long-term trends. He emphasizes rising demand in AI infrastructure, with Nokia's earnings bolstered by an acquisition strategy including companies like Infinera.

The Finnish company has formed a specialized Technology and AI group, headed by Pallavi Mahajan, to further integrate AI across its core telecom services, marking its most significant shift since exiting the mobile phone market.

(With inputs from agencies.)