Nokia (NOK) Taps SAP and Microsoft: Cloud and AI in Focus

Nokia Oyj (NYSE:NOK) is one of the best stocks to buy according to David Greenspan’s Slate Path Capital. Slate Path Capital increased its stake in Nokia stock by 7% during Q1 2026, and so the stock accounts for 4.3% of the portfolio. Nokia shares have more than doubled over the past year, and analysts see the shares rising more over the next 12 months.

Nokia (NOK) Taps SAP and Microsoft: Cloud and AI on Focus

According to a June 30 press release, Nokia Oyj (NYSE:NOK) has inked a multi-year deal with SAP and Microsoft to modernize its ERP landscape. As part of this deal, Nokia will migrate its ERP portfolio to SAP S/4HANA landscape using the RISE with SAP methodology. The portfolio will be hosted on Microsoft’s Azure cloud platform.

With this ERP portfolio migration, Nokia stands to benefit from continuous access to innovation and embedded AI capabilities. The portfolio that Nokia is moving covers data, processes, applications, and operating models.

Since SAP will operate and manage Nokia’s ERP environment in the cloud, Nokia will be able to concentrate on business outcomes rather than infrastructure management.

Nokia Oyj (NYSE:NOK) provides hardware and software products used to build and operate network infrastructure. Its technology underpins wireless networks, fiber optic systems, and data center connectivity around the world. This Finnish company has emerged as a global leader in connectivity for the AI era.

While we acknowledge the risk and potential of NOK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NOK and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: Top 10 AI Stocks to Buy According to Billionaire Philippe Laffont and 10 Best Dividend Stocks Yielding at Least 5% to Buy According to Hedge Funds.

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1