Core Points - The Trusted Tech Alliance (TTA) has been launched by 15 leading global technology companies from 10 countries to promote a trustworthy technology stack and enhance collaboration across borders [1][2] - The alliance aims to address concerns regarding digital technologies and their potential negative impacts by establishing common principles for transparency, security, and data protection [1][2] - Members of the TTA include major companies such as Amazon, Google Cloud, Microsoft, and Ericsson, which have committed to five specific principles that define responsible technology development and deployment [1][2] Group 1: Alliance Objectives - The TTA seeks to foster trust in technology by ensuring that all member companies adhere to shared commitments regarding data protection and operational transparency [1][2] - The alliance emphasizes the importance of collaboration among technology providers to enhance reliability and resilience in the face of rapid technological evolution [1][2] - By defining attributes of trustworthy technology, the TTA aims to support job creation and economic growth while addressing public concerns about emerging technologies [1][2] Group 2: Member Commitments - The five principles agreed upon by TTA members include respect for the rule of law, an open and cooperative digital ecosystem, robust supply chain security, operational transparency, and ethical governance [1][2] - Companies are required to implement strong corporate governance and ethical behavior, ensuring that technologies are developed and managed responsibly throughout their lifecycle [1][2] - The alliance will continue to expand its community of global suppliers dedicated to promoting a reliable, interoperable, and open technology stack [1][2]

If you haven't looked at Nokia (NYSE: NOK) stock lately, you might be surprised. Most consumers remember Nokia as a leading cellphone company that found itself pushed aside by the introduction of the smartphone. However, Nokia has reinvented itself as a telecom equipment company, and the tech stock now trades at its highest levels in more than 10 years. Despite those gains, its long-term growth may have barely begun; here's why. Will AI create the world's first trillionaire? Our team just released a repor ...

Core Insights - Nokia is undergoing a strategic restructuring, consolidating its operations into two main segments: network infrastructure and mobile infrastructure, effective January 1, 2026. This restructuring aims to provide clearer performance data for investors starting from the first quarter of 2026 [2] Financial Performance - Nokia has set a comparable operating profit target of €2 billion to €2.5 billion for 2026, with a focus on growth driven by AI and cloud services, particularly in optical networks and IP networks [3] - The board has proposed a dividend of €0.14 per share for 2025, with future dividend policies dependent on free cash flow performance, which was €1.5 billion in 2025 [5] Strategic Initiatives - Nokia announced a partnership with NVIDIA in the fourth quarter of 2025, focusing on AI-native networks and 6G research. The progress of this collaboration and its impact on network transformation will be critical to monitor [4]

Core Viewpoint - Elkem is conducting a NOK 1,500 million underwritten equity issue through a bookbuilding process, with careful consideration of shareholder interests in the allocation of new shares [1]. Group 1: Equity Issue Details - The NOK 1,500 million equity issue will be subject to market conditions and terms, with a minimum application amount and allocation criteria to be determined by the Board [1]. - A repair offering will follow, allowing existing shareholders to subscribe for new shares at the same subscription price [1]. Group 2: Company Overview - Elkem is a leading provider of advanced silicon-based materials, focusing on sustainable solutions in various sectors including electric mobility and digital communications [1]. - The company reported an operating income of NOK 31 billion in 2025 and has a workforce of over 7,000 people [1]. - Elkem has received high scores for environmental performance, including an A on Forests and Water Security and a B on Climate Change from CDP [1].

Core Insights - Hydro's adjusted EBITDA for Q4 2025 was NOK 5,587 million, a decrease from NOK 7,701 million in Q4 2024, primarily due to lower alumina prices and a stronger NOK, partially offset by higher primary and alumina volumes and lower raw material costs [1][22] - The company generated NOK 4.6 billion in free cash flow and proposed a cash dividend of NOK 3.0 per share, representing 60% of the adjusted net income for 2025 [4][11] Financial Performance - Adjusted EBITDA for Bauxite & Alumina decreased to NOK 1,392 million from NOK 4,969 million year-on-year, mainly due to lower alumina sales prices and a stronger BRL against USD [12] - Adjusted EBITDA for Aluminium Metal increased to NOK 3,707 million from NOK 1,949 million year-on-year, driven by higher all-in metal prices and lower alumina costs [16] - Adjusted EBITDA for Energy decreased to NOK 1,075 million from NOK 1,151 million year-on-year, primarily due to lower price area gains [14] - Adjusted EBITDA for Metal Markets decreased to a negative NOK 56 million from NOK 319 million year-on-year, attributed to lower sourcing and trading results [17] - Adjusted EBITDA for Extrusions decreased to a loss of NOK 62 million from NOK 371 million year-on-year, driven by weaker sales margins [18] Operational Highlights - Alumina production at Alunorte exceeded nameplate capacity, supported by improved refinery flow and high equipment availability [3] - The ramp-up of previously curtailed capacity at Norwegian smelters continued, with quarterly production increasing by 2.5% year-on-year [3] - The strategic workforce reduction was completed, with around 850 employees leaving the company [8] Strategic Initiatives - Hydro signed two long-term power sourcing agreements covering 5.25 TWh for the period 2031 to 2040, crucial for its low-carbon aluminium strategy [5] - The company is investing NOK 1.2 billion in the Illvatn pumped storage plant project, its largest hydropower investment in over 20 years [6] - Hydro announced the consolidation of its Extrusions operations in Europe, confirming the closure of two plants in the UK scheduled for late 2026 [7] Market Conditions - Average Nordic power prices increased in Q4 2025 compared to both the previous quarter and the same quarter last year, driven by stronger seasonal demand and production outages [15] - Global primary aluminium consumption increased, with a 1.2% rise in world ex. China [16] - European extrusion demand was flat year-on-year but increased by 3% compared to Q3 2025, while North American extrusion demand was flat year-on-year but decreased by 8% compared to Q3 2025 [19][20]

Core Insights - The telecommunications sector is increasingly integrating artificial intelligence (AI) into its infrastructure and services, with notable companies like Nokia and IQSTEL leading the conversation in recent news and social media [1][2]. Group 1: Nokia's AI Initiatives - Nokia is highlighted as a prominent player in AI telecom stocks, particularly due to its partnership with Nvidia to develop AI-powered radio access network (AI-RAN) technologies, which positions it for growth as AI adoption accelerates [1]. - The collaboration with Nvidia has garnered renewed interest from Wall Street, with analysts suggesting Nokia could be a "long-term winner" in the telecom infrastructure space amid rising AI demand [1]. Group 2: IQSTEL's AI Roadmap - IQSTEL Inc. is gaining traction in social media and niche investor outlets, particularly for its 2026 Artificial Intelligence Roadmap, which includes the launch of AI services like AIRWEB and IQ2Call [2][3]. - The company emphasizes transparency and long-term value creation through its AI initiatives, which are integrated with its telecom infrastructure and cybersecurity capabilities [3]. Group 3: AI Product Development - IQSTEL's AI journey began in 2023, focusing on developing practical, revenue-generating AI products that operate across web and voice channels, responding to market feedback and enterprise demand [4][5]. - The company has built a proprietary AI platform that supports all current and future AI products, ensuring that advancements benefit every solution simultaneously [6][7]. Group 4: AI Products Overview - IQSTEL's AIRWEB is a 24/7 AI assistant designed for customer engagement across web and phone, offering multilingual support and scalable subscription plans [8]. - IQ2Call is an AI-first call center solution aimed at eliminating wait times through auto-scaling AI agents, with seamless escalation to human operators when necessary [9]. Group 5: Amdocs' AI Solutions - Amdocs has introduced aOS, an agentic operating system designed to help communication service providers (CSPs) accelerate their generative AI strategies, embedding intelligence into telecom operations [10][11]. - The aOS architecture enables CSPs to execute complex workflows across any BSS and OSS environment, enhancing operational efficiency and customer experiences [11][12]. Group 6: SoftBank's Performance - SoftBank Corp. reported an 8% year-on-year revenue growth to 5.2 trillion yen for the first nine months of fiscal 2025, prompting the company to raise its full-year revenue forecast from 6.7 trillion yen to 6.95 trillion yen [15][16]. - The optimism surrounding SoftBank's telecom unit and its AI business strategy has positively impacted investor confidence, reflected in a 10% surge in its shares [15].

Group 1 - Nokia Oyj (NYSE:NOK) is recognized as one of the 11 best communication equipment stocks according to hedge funds, with a moderately bullish consensus sentiment as of February 9, featuring 5 Buy ratings, 1 Hold rating, and 1 Sell call, alongside a projected median 1-year price target of $7.18 [1] - On February 10, Nokia announced the transfer of 2,622,652 shares to participants in its equity-based incentive plans, which relates to a board resolution for settling commitments from an incentive plan previously announced on October 2, 2025, leaving the company with 139,291,855 shares [1] - J.P. Morgan's Sandeep Deshpande reiterated an Overweight rating on Nokia on February 2, raising the price target from $8 to $8.20, indicating a potential upside of 16% from the current level [2] Group 2 - Nokia Oyj is a Finland-based B2B technology innovation company that provides mobile, fixed, and cloud network solutions, operating primarily through two segments: Network Infrastructure and Mobile Networks, focusing on AI-powered connectivity and technology licensing services [3]

Core Viewpoint - Nokia has announced its 2025 financial results and strategic restructuring aimed at transitioning to an AI-driven network and cloud infrastructure provider, with a focus on key business segments and future growth opportunities [1][2]. Strategic Advancement - In November 2025, Nokia announced a significant strategic restructuring to transform into a provider of AI-driven foundational networks and cloud infrastructure, consolidating into two core business segments: network infrastructure and mobile infrastructure, effective January 1, 2026 [2]. Performance and Operational Situation - On January 29, 2026, Nokia released its financial report for Q4 2025 and the full year, setting a comparable operating profit target for 2026 between €2 billion and €2.5 billion, emphasizing a focus on AI and cloud growth opportunities, 6G technology development, and deepening partnerships with companies like NVIDIA [3]. Future Development - Starting from Q1 2026, Nokia plans to report financial performance according to the new business structure, with management highlighting a focus on AI-driven network transformation, including investments in optical networks and IP networks, as well as the implementation of collaborations with NVIDIA on AI-RAN technology. In 2025, the company signed multiple cooperation agreements with operators such as Vodafone Idea in India, Telefónica in Spain, and Zain in Saudi Arabia [4].

Core Insights - The recent volatility in global enterprise software stocks has been unprecedented, with significant underperformance over the past year, raising concerns about the impact of AI on the software industry [1][2] - The introduction of a new AI plug-in by Claude has sparked fears regarding AI's potential to disrupt the software sector, leading to a broader discussion among industry experts [2] Historical Context - The launch of the iPhone in January 2007 marked a significant turning point in the mobile industry, surprising competitors and leading to a shift in market dynamics [3][4] - Following the iPhone's unveiling, Google pivoted its strategy towards developing a sophisticated operating system, resulting in the creation of Android, which now holds a 70% market share [4] - The iPhone's introduction also contributed to the decline of major players like Nokia and BlackBerry, who failed to recognize the disruptive potential of the new technology [5][8] Market Performance - By the end of 2007, Nokia and BlackBerry had market capitalizations of $150 billion and $100 billion respectively, but these figures would drastically decline in the following years due to the iPhone's impact [7][9] - By 2012, Apple captured approximately 70% of global mobile handset industry profits, despite holding only a 10% unit share, illustrating the profound effect of the iPhone on competitors [9] Current Industry Dynamics - Recent concerns about AI disruption have led to a significant decline in the stock prices of SaaS companies, despite their strong business performance in recent years [15] - For instance, Adobe, which reported 11% revenue growth and 15% net profit growth, is currently trading at a trailing PE of 15.5 times, indicating a disconnect between performance and market valuation [15] Investment Considerations - Investors are advised to approach the current market with caution, considering multiple potential outcomes rather than adopting a "buy the dip" mentality [13][16] - The Indian IT services sector is currently not priced for disruption, trading at high PE multiples despite lower revenue and profit growth compared to SaaS companies [19][21] - Historical data shows that during previous disruptions, leading IT services companies traded at lower PE multiples, suggesting that current valuations may not reflect the risks posed by ongoing technological changes [21][22]

Investment Activity - FNY Investment Advisers LLC acquired a new position in Nokia worth $34,000 during the second quarter [1] - First Horizon Advisors Inc. increased its stake in Nokia by 677.1% during the second quarter, now owning 8,486 shares valued at $44,000 after purchasing an additional 7,394 shares [1] - Park National Corp OH and Eagle Strategies LLC also acquired new positions in Nokia during the third and second quarters, valued at $51,000 and $52,000 respectively [1] - World Investment Advisors acquired a new stake in Nokia during the second quarter valued at approximately $54,000 [1] - Institutional investors and hedge funds own 5.28% of Nokia's stock [1] Stock Performance - Nokia shares opened at $7.07, with a fifty-day moving average of $6.49 and a 200-day moving average of $5.64 [2] - The company has a market capitalization of $40.60 billion, a price-to-earnings ratio of 54.39, and a price-to-earnings-growth ratio of 2.38 [2] - Nokia's debt-to-equity ratio is 0.11, with a quick ratio of 1.36 and a current ratio of 1.58 [2] - The stock has a one-year low of $4.00 and a one-year high of $8.19 [2] Analyst Ratings - Kepler Capital Markets upgraded Nokia from a "hold" to a "buy" rating [3] - Morgan Stanley raised Nokia from an "equal weight" to an "overweight" rating [3] - UBS Group maintained a "neutral" rating on Nokia [3] - JPMorgan Chase & Co. increased their price target on Nokia from $7.10 to $8.00, maintaining an "overweight" rating [3] - New Street Research set a price objective of $6.57 for Nokia [3] - The consensus rating for Nokia is "Moderate Buy" with an average price target of $6.77 [3] Company Overview - Nokia Corporation, headquartered in Espoo, Finland, is a global telecommunications and technology company with a history dating back to 1865 [5] - The company has transitioned from forestry and cable operations to electronics and telecommunications, becoming well-known for mobile phones in the 1990s and 2000s [5] - Recently, Nokia has refocused on network infrastructure, software, technology licensing, and research and development after divesting its handset manufacturing business and acquiring Alcatel-Lucent in 2016 [5][6]