Nokia CEO Justin Hotard said AI data centers could be built twice as fast if supply constraints were not slowing their development. The bottlenecks are tied to memory chip shortages and energy capacity limitations, not weak demand. In the second quarter of 2026, Nokia’s AI and cloud business net sales reached 446 million euros, doubling year over year. The company booked 2.8 billion euros in new AI and cloud orders, with half expected to convert to revenue within the next year.
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