NOK ▼ -3.2% - Nokia Oyj $NOK Nokia CEO Justin Hotard says AI infrastructure demand remains strong enough that customers would build data centers about twice as fast if memory-chip and power constraints allowed, reinforcing his view that the buildout is still early. * Demand: Hotard said current bottlenecks, not weak appetite, are limiting construction, arguing customers would accelerate deployments if supply were available. * Beyond frontier models: He said AI infrastructure growth does not depend on constant releases from OpenAI, Anthropic or other frontier labs; existing models could support years of deployment growth. * Nokia’s role: The company supplies networking technology connecting chips within data centers and linking facilities across locations, positioning it as infrastructure for the AI buildout. * Capital scale: Research cited by CNBC estimates AI-related infrastructure investment could total $10.3T from 2025–2032. 05-OCT-2026 06:21 PM ET