US Stock Market Move | Nokia Oyj Sponsored ADR (NOK.US) rises 2% and establishes a new artificial intelligence department.

On Wednesday, Nokia Oyj Sponsored ADR (NOK.US) rose 2% to $4.705. In terms of news, Nokia Oyj Sponsored ADR announced the establishment of a new artificial intelligence department and hired former Intel Corporation executive Pallavi Mahajan to lead it, in line with new CEO Justin Hotard's strategic transformation. The new department is called the Technology and Artificial Intelligence Organization and will integrate the company's R&D center, Nokia Bell Labs. Nokia Oyj Sponsored ADR is aiming to take advantage of the artificial intelligence trend and compete with network companies like Ciena by connecting data centers to achieve this goal. Hotard, who took over as President of Nokia Oyj Sponsored ADR in April, believes that this new initiative will diversify the company's customer base and alleviate the spending shortages of telecom operators. The newly formed department will work in collaboration with the company's network infrastructure department to develop technology for connecting data centers.