NOK Stock Rises Overnight: Retail Bulls Charged After SMCI's Backlog Surge, Call Nokia 'Pillar Of Infrastructure' Ahead Of Earnings

Optimism grew ahead of July 23 earnings, supported by Nokia's AI networking initiatives.

• Nokia's stock gained after Super Micro Computer reported a record AI infrastructure backlog.
• Retail investors became optimistic about Nokia's AI networking growth ahead of its July 23 earnings.  
• In July, Nokia expanded its AI-driven infrastructure push with the launch of its AI-native RAN platform and new partnerships. 

Nokia Oyj (NOK) stock climbed nearly 3% overnight as retail investors piled into the stock following Super Micro Computer's backlog-fueled rally, betting the Finnish telecom giant could similarly benefit from accelerating AI infrastructure demand ahead of its July 23 earnings.

What's Causing NOK Stock’s Rally 

NOK’s evening move followed AI server provider Super Micro Computer’s (SMCI) strong early update for its fourth quarter, reporting more than $60 billion in new orders, lifting its backlog to a record high and signaling strong demand for its AI, enterprise, storage, and 5G/Edge products. 

The update made retail traders optimistic about Nokia’s growth as the company provides AI-augmented networking offerings and has expanded its AI-focused products by improving data center networking equipment with faster performance and AI-powered automation.

Nokia is expected to report its fiscal second-quarter earnings on July 23, and analysts see €4.83 billion ($5.51 billion) in revenue with earnings of €0.07 per share, according to Fiscal AI data. 

Nokia stock traded over 3% higher overnight on Tuesday, after a 5% rally in the regular session, ending four consecutive days of losses. 

Nokia Doubles Down On AI-Driven Network Infrastructure 

In July, Nokia expanded its AI-focused network business through new products and partnerships. The company launched the industry’s first commercial AI-powered Radio Access Network (AI-RAN) platform, using its anyRAN software and Nvidia’s technology to help telecom operators build faster, smarter, and more efficient wireless networks. 

Nokia also expanded its long-standing partnership with Taiwan Mobile, deploying its AirScale portfolio and AI-powered software to modernize the operator's 5G network with greater automation, energy efficiency and performance. In the defense sector, Nokia partnered with NestAI to develop AI-enabled command-and-control capabilities using deployable 5G networks and communications for military operations in contested environments. 

Meanwhile, Orange Belgium chose Nokia to upgrade its optical transport network, enhancing support for AI-scale computing, quantum-resilient security and future 5G services while improving network automation. 

What NOK Retail Traders Are Saying 

On Stocktwits, retail sentiment around the stock improved to ‘bullish’ from ‘neutral’ territory the previous day. The stock has seen a 61% increase in message volume over the past week, with 0.2% gain watchers. 

A user said, “FOMO startin , this is oversold as hell , wonder how high we will get before ER and after ... . Got tingly feelin it will be great . This is not some startin company burning cash , but main pillar of infrastructure for many sectors.”

Another user believes Super Micro's strong after-hours update—highlighted by a record AI infrastructure backlog and much higher profit margin guidance—is a positive signal for other AI infrastructure companies like Nokia. 

A third user said, “$NOK due to its quasi-monopoly on AI-RAN, this stock should be worth $17 today, $28 after earnings and $40 EOY.”

NOK stock has gained 64% year-to-date. 

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