Nokia Oyj (NYSE:NOK) on Tuesday said it is broadening its Network as Code initiative, bringing additional telecom operators into the fold and strengthening its partnership with Google Cloud to embed "agentic AI" into network APIs.
New and expanded collaborators include Deutsche Telekom (OTC:DTEGY), Globe, Orange, Rakuten, Tata Communications, Telefónica (OTC:TELFY, )), TELUS (NYSE:TU), and Vodafone Group Plc (NASDAQ:VOD), underscoring Nokia's push to scale a global ecosystem built around programmable network capabilities.
As part of the update, Nokia will integrate Google Cloud's agentic AI tools so enterprise software agents can use network APIs to trigger actions and automate workflows; Google Cloud is owned by Alphabet Inc. (NASDAQ:GOOGL).
Why It Matters
Nokia is positioning Network as Code as a monetization engine that converts complex telecom infrastructure into standardized, secure APIs developers can embed into enterprise and IoT applications. The company sees traction in areas such as digital identity verification, fraud mitigation, device lifecycle management, and on-demand network performance.
Emerging Use Cases
Early deployments include number verification technology designed to replace traditional one-time passwords, anti-fraud tools targeting mobile banking risks, and "quality on demand" services that allow businesses to prioritize connectivity for critical applications.
Launched in September 2023, Network as Code aligns with broader industry efforts such as GSMA Open Gateway and the Linux Foundation's CAMARA framework, both aimed at standardizing how telecom networks expose capabilities to developers.
The expanded Google Cloud collaboration reflects Nokia's broader strategy to make telecom networks more programmable and AI-driven, while partnerships with major global carriers reinforce its ambition to build a scalable, revenue-generating API ecosystem.
Technical Analysis
Over the past 12 months, Nokia has seen a significant uptrend, with its stock price increasing by 64.87%. Currently, the stock is trading well above its key moving averages, which signals strong bullish momentum. Specifically, Nokia’s shares are 7.9% above the 20-day SMA and 39.1% above the 200-day SMA.
The technical indicators further reinforce this positive outlook. The RSI is currently at 72.47, indicating the stock is in overbought territory, which could signal a near-term pullback or consolidation.
However, the MACD values indicate a bullish pattern, with the MACD line at 0.3067 above the signal line at 0.2481, supporting Nokia’s overall upward trend.
Earnings & Analyst Outlook
Nokia Corporation is slated to provide its next financial update on April 23, 2026. With the earnings date more than two weeks away, the focus is on how the company will continue to leverage its recent technological advancements and partnerships.
- EPS Estimate: 6 cents (Up from 3 cents YoY)
- Revenue Estimate: $5.43 billion (Up from $4.62 billion YoY)
- Valuation: P/E of 63.5x (Indicates premium valuation)
Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $6.43. Recent analyst moves include:
- Morgan Stanley: Initiated with Overweight (Target $8.00) (Feb. 9)
- JP Morgan: Overweight (Raises Target to $8.00) (Dec. 1, 2025)
- Jefferies: Upgraded to Buy (Oct. 28, 2025)
Benzinga Edge Rankings
Below is the Benzinga Edge scorecard for Nokia, highlighting its strengths and weaknesses compared to the broader market:
- Value: Neutral (Score: 57.19) — Reflects a moderate valuation compared to peers.
- Quality: Weak (Score: 38.07) — Indicates challenges in maintaining high-quality standards.
- Momentum: Bullish (Score: 91.13) — Stock is outperforming the broader market significantly.
The Verdict: Nokia's Benzinga Edge signal is mixed but slightly positive, with strong momentum offset by weaker quality ahead of earnings.
NOK Price Action: Nokia shares were down 3.93% at $7.93 at the time of publication on Tuesday. The stock is approaching its 52-week high of $8.36, according to Benzinga Pro data.
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