Nokia Corporation (NYSE:NOK) shares rose nearly 5% in Thursday premarket trading after the company expanded its Microsoft partnership around AI-driven network automation.

The move came against a risk-on backdrop, with S&P 500 futures up 0.8%. Nokia shares have gained nearly 70% in 2026.

Microsoft Deal Extends Nokia's AI Push

Nokia said it is extending its partnership with Microsoft Corp. (NASDAQ:MSFT) to create an "agentic, unified data foundation" combining Nokia Data Suite with Microsoft Fabric.

The platform aims to give telecom operators trusted network data "in minutes instead of weeks" and accelerate AI-driven automation.

Initial use cases include autonomous VoNR assurance and "geo-experience," which combines subscriber, network and radio-frequency data.

The development builds on Nokia's AI-RAN strategy. Eight operators are advancing trials, while the platform has demonstrated more than 20% spectral-efficiency gains. Further software improvements are planned for 2027 and 2028.

AI-RAN, Optical Networks Add Catalysts

Nokia is running AI-RAN trials across Europe, Asia-Pacific and the Middle East as Nvidia Corp. (NASDAQ:NVDA) pushes AI deeper into radio networks.

Separately, Nokia will deploy ICE-X 800G ZR/ZR+ coherent pluggable optics with Telxius across networks in Europe, the U.S. and Latin America.

The 800G rollout includes automation for network provisioning, fault monitoring and performance management.

NOK Technical Setup

Nokia's 20-day SMA of $10.23 remains above its 50-day SMA of $10.21, while the 50-day average is above the 200-day SMA of $9.76.

At $10.61, shares were 3.8% above the 20-day SMA and about 4% above the 50-day average.

The stock remains 11.7% below its 100-day SMA of $12.02. RSI stands at 48.62, indicating neutral momentum.

The $10.50 area is being tested in premarket trading, while support sits near $9.50.

Earnings, Analysts In Focus

Nokia is scheduled to report earnings Oct. 22. Analysts expect EPS of 8 cents, up from 7 cents a year earlier, on revenue of $5.81 billion versus $5.64 billion.

The stock carries a Buy consensus rating with an average price forecast of $17.

Rosenblatt recently initiated coverage with Buy and a $15 target. JPMorgan has an Overweight rating and $21 target, while Argus Research rates Nokia Buy with a $15 target.

NOK Stock Price Activity: Nokia shares were up 5.62% to $10.71 in Thursday premarket trading, according to market data.