Nvidia says it’s adding this tech company to its portfolio Stocks are rising.

A vote of confidence from artificial intelligence chip maker Nvidia sent shares of another technology company higher on Tuesday.

Nvidia (NVDA) said it is making a $1 billion investment in Nokia (NOK) as well as a new strategic partnership, sending shares of the Finnish technology company up nearly 23%. With Tuesday’s gains, it has added about three-quarters of its value in 2025.

Nvidia said it will buy approximately 166.4 million new shares in Nokia at a price of $6.01 per share, and will become a 2.9% shareholder in the Finnish company. Nokia said it will use the proceeds to “accelerate its strategic plans to enhance reliable connectivity for AI super-cycle and other general corporate purposes.”

Nokia, known for its cell phones and early mobile network products, has shifted its focus to cater to the booming AI data center market of late, and Nvidia’s investment represents its latest bet on AI infrastructure.

Some other companies in which Nvidia has taken stakes include AI cloud computing provider CoreWeave (CRWV) and AI chip designer Arm (ARM). CoreWeave represents the largest holding in Nvidia’s stock portfolio, with 24.3 million shares amounting to nearly 7% of the company’s stock as of June, according to a regulatory filing.

Like Nvidia, Arm shares added nearly half their value in 2025 as demand for AI chips soared, while CoreWeave shares more than tripled from their initial public offering price of $40 in March.

Nvidia shares rose about 5% on Tuesday to close at a record high after CEO Jensen Huang delivered a keynote speech at the company’s developers conference in Washington, D.C., where he highlighted the latest advances in artificial intelligence and a flurry of announcements, including a partnership with Nokia.

This article has been updated since it was first published to include additional information and reflect the most recent stock quotes.