Nokia CEO Justin Hotard compared today’s artificial intelligence wave to the internet revolution of the 1990s, calling it the start of an “AI supercycle” and dismissing fears of an investment bubble. “Even if there’s a bubble, the long-term trends are favorable,” he said, emphasizing that AI infrastructure is driving real, sustained growth.
Hotard, who previously led Intel’s data center and AI division, said Nokia is seeing expanding demand for optical and cloud technologies as tech firms race to build new data centers across Europe and beyond. The company’s latest results exceeded expectations, reflecting this AI-fueled surge.
Under Hotard, Nokia is transforming its business to integrate AI across its network technologies, including radio access and fiber. The Finnish firm has also formed a new Technology and AI organization headed by CTO Pallavi Mahajan, formerly of Intel, to speed its innovation push.
