Nokia Advances AI and Partners with Microsoft, NVIDIA for 6G

Wall Street rose on Friday, led by AI-related stocks like Microsoft (+3.7%), Qualcomm (+4%), and Dell (+5%). Akamai (+3.2%) gained after an $11.6B deal with Anthropic. Meta fell 3.3% despite a 13% weekly gain. S&P 500 (+0.51%), Nasdaq (+0.48%), and Dow (+0.93%) all closed higher.

Microsoft and Meta reported significant capital expenditures, $41B and $31.08B respectively, driven by AI infrastructure. Both companies fund build-outs internally and via leases, with long-term commitments. Investors should consider lease accounting impacts and future revenue to assess returns.

Bernstein Research reports Huawei now holds 50% of China's AI chip market, up from near 0% a year ago, while Nvidia's share dropped to 8% from 40%. Huawei aims to produce 1.6M Ascend chips by 2026, with SMIC dedicating 15-20% of its capacity. The Ascend 950PR, though not matching Nvidia's H200, is the only high-end option available in China due to US export controls.

Nvidia (NVDA) is reportedly in talks to invest up to $10 billion in AI company Anthropic's IPO, according to Reuters. This follows a previous $10 billion investment in 2025. Anthropic aims to raise up to $100 billion in its IPO, potentially valuing it at $2 trillion. Nvidia's investment would represent a small stake in the company. Nvidia's recent earnings show significant growth, with revenue up 106% year over year.

Nvidia director Mark Stevens sold 1.37 million shares for $300.15 million, reducing his holdings by 4.73%. Nvidia's GF Value™ suggests it is undervalued at $225.07, 43.2% below its intrinsic value estimate of $396.54, with a GF Score™ of 96/100. Insider sales totaled $2.2 billion over the past year with no insider buying.

Between September 21-25, insiders at Nvidia, Oracle, and Salesforce executed notable trades. Nvidia director Mark Stevens sold 1.37M shares at $219.73 each.