Oct. 28 (UPI) -- NVIDIA is investing $1 billion to enable Nokia to accelerate its development of a world-leading 6G platform to support artificial intelligence mobile networks and networking infrastructure.
Nokia announced the $1 billion investment by NVIDIA on Tuesday, which gives NVIDIA shares in Nokia while providing the capital needed to speed up the development of 6G to replace the current 5G telecommunications cellular technology, according to CNBC.
"The partnership marks the beginning of the AI-native wireless era, providing the foundation to support AI-powered consumer experiences and enterprise services at the edge," NVIDIA and Nokia officials announced in a joint news release.
NVIDIA is paying $6.01 per share to receive more than 166 million shares for its $1 billion investment in Nokia.
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