Company: NOKBF
Filing Date: 2025-10-28
Form Type: 6-K
Source: 0001104659-25-103038
Chunk: 1

Company: NOKIA CORP
Filing Date: 2025-10-28
Form: 6-K
Chunk 1
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 NVIDIA will subscribe for the shares
at a subscription price of USD 6.01 per share. The transaction will see NVIDIA become a 2.90% shareholder of Nokia.

The strategic partnership and investment are expected to create significant
value for both companies. Nokia will use the proceeds from the issuance to accelerate its strategic plans to advance trusted connectivity
for the AI supercycle and other general corporate purposes. Nokia intends to accelerate development of Nokia’s 5G & 6G
RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence
in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and
NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching
and optical technologies in NVIDIA’s future AI infrastructure architecture.

Nokia will host a press and investor conference call on 28 October 2025
at 3:30pm EST (7:30pm GMT, 9:30pm EET) to discuss both the strategic partnership and the purpose of the investment.

Details of the equity investment

Subject to certain customary closing conditions, NVIDIA will subscribe
for the new shares at a price of USD 6.01 (EUR 5.16) per share, equating to an effective capital contribution to Nokia of approximately
USD 1.0 billion (EUR 0.86 billion). All amounts denominated in USD have been converted into EUR using the USD/EUR exchange reference rate
published by the European Central Bank for 27 October 2025, which was 0.8591 (USD 1 being EUR 0.8591). The subscription price shall
be recorded in Nokia's reserve for invested unrestricted equity. The directed share issuance is an essential part of the strategic partnership
with NVIDIA.

www.nokia.com

| Stock            
 exchange release 
 28 October 2025  |     | 2 (4) |

The subscription price has been determined as part of the negotiations
between Nokia and NVIDIA. In addition to its own assessment of the strategic partnership, Nokia has taken independent legal and financial
advice to assist in its evaluation of the fairness to Nokia of the terms of the share issuance, taking into account the strategic partnership.
In the assessment of Nokia, the strategic partnership, including the share issuance, benefits Nokia and its shareholders, and therefore
there is a weighty financial reason for deviating from the pre-emptive rights of the shareholders