Nokia Bags Contract To Upgrade New York’s Largest Internet Exchange Backbone: Retail’s Extremely Bullish

Nokia Corp. (NOK) announced on Monday it has won a contract to upgrade New York’s largest internet exchange’s backbone, driving retail interest in its stock.

Nokia’s shares were down a little over 1% in pre-market at the time of writing, reflecting a broader decline in U.S. futures as markets decipher the impact of President Donald Trump imposing tariffs on China, Canada, and Mexico.

The Finnish networking giant announced that it had been selected by DE-CIX, one of the world’s leading internet exchanges, to upgrade its backbone in New York and the U.S. Northeast region.

Nokia will upgrade the backbone to 400-gigabit Ethernet (GE) using optical technology. This will interconnect DE-CIX’s 10 data center facilities.

This upgrade also enables 800 GE support, making the internet exchange’s infrastructure capable of future capacity expansion.

“This upgrade to DE-CIX New York’s backbone isn’t just about supporting the largest Internet Exchange in the Northeast — it’s about shaping the future of connectivity in one of the world’s biggest markets,” said James Watt, Senior VP and General Manager of Nokia’s Optical business.

DE-CIX’s New York internet exchange covers Long Island to the east and Piscataway and Edison to the south and west, connecting over 265 networks across the city.

This comes days after Nokia announced its fourth-quarter results last week, beating Wall Street estimates. CEO Pekka Lundmark also underscored that the firm expects improving market trends to persist in 2025.

Retail sentiment on Stocktwits about the Nokia stock remained ‘extremely bullish’ (88/100), further improving from the past week.

One user expressed their bullish outlook toward Nokia, noting that they invested in the company.

Nokia’s share price has surged more than 23% over the past six months, while its one-year gains stand at 29.2%.

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