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Nvidia Partners with Nokia and Reaches Record Stock High
Nvidia’s shares surged 5% on Tuesday, reaching an all-time closing high of $201.03, driven by the announcement of significant new partnerships at the GTC Washington, D.C. event, which runs until October 29. This increase marks a year-to-date gain of 49.7%, outperforming the S&P 500, which has returned 18.4% in the same period.
Major Investments in Telecom
The tech giant revealed a strategic partnership with Nokia, investing $1 billion to develop next-gen AI-native mobile networks. Following this announcement, Nokia’s stock rose 22.8%. Nvidia’s continued investment strategy includes a $100 billion commitment to OpenAI and a $5 billion investment in Intel.
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