KEY TAKEAWAYS Nokia said Monday that it has appointed Intel’s Justin Hotard as CEO, replacing Pekka Lundmark, as the Finnish telecoms equipment maker looks to beef up its artificial intelligence business.

Justin Hotard, Intel’s head of data-center and AI operations, is leaving to head up Nokia. Shares of the telecom-gear maker rallied over 2% in Europe; U.S.-listed Intel shares edged higher premarket.

Finnish telecoms company Nokia on Monday said Pekka Lundmark would step down as CEO, and that it has appointed Justin Hotard to take over his role.

So chip stock Intel (INTC) just lost Justin Hotard to Nokia Oyj (NOK). This might seem like a blow to Intel’s operations, but investors have

Justin Hotard is appointed Nokia’s new CEO, just months after former Intel boss Pat Gelsinger retired. Trump's "America First" ethos may come at a big cost to the stock market.

Nokia (NYSE: NOK) said Monday that Justin Hotard will succeed Pekka Lundmark as the Finnish company's new CEO. Intel hired Hotard as executive vice president and general manager of its data center and artificial intelligence group in January 2024.

Nokia Appoints Intel's AI and Data Center Leader Hotard as CEO - Finnish telecom giant Nokia announced that CEO Pekka Lundmark will step down, with Justin Hotard set to

AI expert Justin Hotard is to become CEO of Nokia. He is to continue the Group's realignment in fields such as data centers and AI.

Nokia Oyj will replace Chief Executive Officer Pekka Lundmark with Intel Corp.’s recently appointed head of artificial intelligence Justin Hotard in a surprise announcement as the network equipment maker works to exit a prolonged slump in orders from phone operators.

In an unexpected turn of events Justin Hotard, the executive vice president and general manager of the Data Center and AI Group (DCAI) at Intel, left the company to become chief executive of Nokia. Intel has appointed an internal head for its datacenter and AI unit and will start searching for a new permanent general manager immediately.