#NOK – Nokia Rejoins EURO STOXX 50 as AI and Cloud Momentum Builds Nokia is getting attention as it officially returns to the EURO STOXX 50 on September 21, replacing Volkswagen. The index change can bring additional buying from funds that track the benchmark. But the index move is only one part of the story. Nokia has been seeing strong demand from the AI and cloud infrastructure market. In Q2 2026, Nokia said sales to AI & Cloud customers more than doubled year over year, while Optical Networks revenue increased 20%. The company is supplying optical networking and IP infrastructure that helps move the huge amount of data generated by AI data centers. Nokia has also expanded its partnership with Microsoft, combining Nokia’s telecom data products with Microsoft Fabric to support AI-driven network automation and faster data analysis. Why Investors Are Watching #NOK • EURO STOXX 50 re-entry could bring passive/index-related demand • AI & Cloud customer sales more than doubled in Q2 • Optical Networks revenue grew 20% year over year • Nokia is increasing its exposure to AI data-center networking • Microsoft partnership adds another AI/cloud angle • Strong demand is supporting longer-term orders in networking infrastructure The bigger story is that Nokia is becoming more connected to the AI infrastructure buildout, especially through optical networking, high-speed connectivity and data-center infrastructure.