So, what's going on with Nokia (NOK) stock on Tuesday? Well, the company just landed a pretty significant piece of business. Nokia announced it won a multi-year contract from Virgin Media O2 to deploy 5G radio access network (RAN) infrastructure across the UK. This isn't just a one-off sale; it's part of Virgin Media O2's broader Mobile Transformation Plan.

The deal involves rolling out Nokia's AirScale portfolio, which includes fancy tech like Massive MIMO and AI-enabled platforms. The goal is to boost network capacity, coverage, and efficiency, all while laying the groundwork for the next step: 5G-Advanced. This agreement also extends a partnership that's been going on for a while, and the two companies plan to keep collaborating on things like network automation, AI-driven intelligence, and making networks more energy-efficient. It's a solid, forward-looking deal for Nokia's core business.

In a separate but related development, Nokia is also deepening its ties in the artificial intelligence space. The company and Blaize Holdings Inc. (BZAI) are expanding their AI collaboration in the Asia-Pacific region. Their focus is on building a hybrid infrastructure that blends edge computing with data center capabilities.

They're doing development and validation work at Nokia's Network Innovation Lab in Singapore and have put together a joint reference architecture meant for real-world use. The plan is to show off their progress at the GITEX Asia 2026 event in Singapore, highlighting use cases for AI systems that are both scalable and energy-efficient. This initiative is aimed at enterprises, governments, and cloud providers, with a big emphasis on improving latency, power efficiency, and scalability for distributed AI workloads. It's a strategic move to position Nokia in the growing AI infrastructure market.

Now, let's talk about the stock itself. From a technical analysis perspective, Nokia is presenting a fairly classic chart setup. The stock is currently trading about 2.3% below its 20-day simple moving average (SMA). That often signals a short-term pullback or consolidation. However, it's still sitting a healthy 14% above its 100-day SMA. This combination typically suggests the longer-term trend is still constructive, even if there's some near-term weakness.

The performance over the past year has been strong, with shares up 51.04%. The stock is trading closer to its 52-week high of $8.82 than its low of $4.00. Looking at momentum indicators, the Relative Strength Index (RSI) is at 50.28, which is right in neutral territory. It suggests neither buyers nor sellers have a decisive edge at the moment. Meanwhile, the Moving Average Convergence Divergence (MACD) is at 0.1734 and remains below its signal line at 0.2411. This reinforces the idea that bullish momentum has cooled off in the near term. So, you have an RSI near 50 alongside a bearish MACD, which points to momentum leaning slightly bearish for now, even though the broader trend structure—supported by those longer-term moving averages—still looks okay.

For traders watching key levels, analysts are eyeing $8.50 as a major resistance point the stock needs to break through. On the downside, $6.50 is seen as a key support level to hold.

As for the price action on Tuesday, Nokia shares were down 0.25% at $7.94 during premarket trading, according to market data. It's a minor move that fits with the technical narrative of a pause or slight pullback within a larger positive trend, following the news of its new UK contract and AI partnership expansion.