Nokia (NYSE:NOK) stock is up on Monday after the company announced a cloud partnership with Microsoft (NYSE:MSFT). This will have NOK’s Cloud RAN technology being integrated into MSFT’s Azure cloud platform.
Getting into the details of the partnership, Nokia will combine its mobile network solutions with Azure Private Edge Zone in three steps. That includes its “Cloud RAN, Open RAN, Radio Access Controller (RIC) and multi-access edge cloud (MEC) solutions.”
This all matters as it will help both companies prepare for the expansion of 5G wireless networks. If the results of this combination go well, it could also result in an expanded partnership covering other areas such as network slicing.
Tommi Uitto, president of Mobile Networks at Nokia, said this about the positive news for NOK stock.
“We are enthusiastic to work closely with Microsoft on this project that will harness Azure with our 5G radio network technology. Open collaboration is key to the development of new and innovative high-value 5G use cases that will equip our customers with the tools they need for digital transformation.”
NOK stock is a favorite over at r/WallStreetBets. As such, it’s worth noting that any positive news is enough to gain the attention of investors over on the subreddit. Investors should keep that in mind when considering taking a position in the company.
NOK stock was up 2.1% as of Monday afternoon and is up 10.7% since the start of the year.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.