Nokia Corp shares traded higher on Tuesday as strong artificial intelligence data center demand, a raised full-year profit outlook and a second-quarter earnings beat prompted investors to reassess the company beyond its traditional telecom business. The stock was up 3.56% at $9.46 at publication, even as the Nasdaq was down 0.03% and the S&P 500 was up 0.08%. Late in July, Nokia reported net sales of 4.82 billion euros ($5.60 billion), up 8% from a year earlier, while adjusted earnings came in at eight cents per unit, ahead of the seven-cent consensus estimate. Network Infrastructure revenue increased 12%, helped by Optical Networks growth of 19% and IP Networks growth of 15%. CEO Justin Hotard said Nokia is expanding further into AI infrastructure, with AI and Cloud revenue doubling 103% to 9.3% of total sales and new AI and cloud orders reaching 2.8 billion euros. Hotard also said the company is preparing for memory shortages expected through 2027 by securing long-term supply agreements, modifying product designs and passing higher costs on to customers. From a technical perspective, the shares remain 2.9% below their 20-day SMA (simple moving average) and 22.8% below their 50-day SMA, while trading 0.5% above the 200-day SMA, leaving investors focused on whether the recent pullback becomes a deeper break or stabilizes near support.