Nokia CEO Hotard: memory chips, energy shortages slow AI builds
Business
Nokia's CEO Justin Hotard says building new AI data centers could go twice as fast if it weren't for ongoing shortages of memory chips and energy.
With demand for AI tech exploding, these supply problems are making it tough to keep up.
AI infrastructure $10.3 trillion by 2032
Investments in AI infrastructure are set to hit $10.3 trillion by 2032, about 3.63% of the US GDP every year.
Companies are teaming up and taking on debt to fund this growth, confident that the need for AI isn't going anywhere.
Despite a few stock market hiccups, Nokia's role connecting these data centers has boosted its stock by 130% over the past year, showing strong faith in where things are headed.