Nokia reports €2.8B in AI and cloud orders for Q2 as demand nearly triples

Nokia just posted a quarter that makes its AI and cloud pivot look less like corporate strategy and more like catching lightning in a bottle. The company reported €2.8 billion in new AI and cloud orders for Q2 2026, nearly tripling from €1 billion in Q1 2026. Here’s the number that really turns heads: that single quarter of orders surpassed the entire €2.4 billion Nokia booked for AI and cloud across all of 2025. In the span of three months, Nokia outpaced a full year’s worth of business in one of the fastest-growing segments of enterprise tech. The fiber-optic boom behind the numbers AI and cloud net sales hit €446 million in the quarter, more than doubling on a year-over-year basis from €220 million. Nokia’s comparable operating profit came in at €434 million, an 18% jump year-over-year that beat market consensus estimates. The Network Infrastructure segment posted a 12% sales increase from the prior year. A CEO shaped by AI infrastructure Nokia’s current CEO Justin Hotard took over in April 2025, arriving from Intel’s Data Center & AI Group. “Demand remains strong, while supply continues to be the main industry constraint, prompting our customers to place longer-term orders,...