A $4.15 million bet just hit the options market: someone bought December 2026 calls on Nokia at a $24 strike price. For context, Nokia is currently trading around $5-6. That's a 4x+ move in seven months. Insane? Maybe. But before you dismiss this as r/wallstreetbets lunacy, there are five rumors circulating that could—could—justify this kind of conviction.
First, the options activity itself. Multiple large call purchases have appeared recently: $1.5 million in January 2027 $27 calls, $3.4 million in September 2026 $19 calls, and $700K in June 2026 $17 calls. This isn't retail YOLO money. This is someone—or multiple someones—making coordinated, multi-million dollar bets that Nokia is massively undervalued.
Rumor #1: Nvidia is buying more. Nvidia bought $1 billion of Nokia shares in October 2025, about 3% of the company. But here's the odd part: all of Nvidia's other recent investments—Marvell, Coherent, CoreWeave, Synopsys—were $2 billion stakes. Why is Nokia only $1 billion? In an interview, Jensen Huang reportedly said he "wishes the investment could have been $2 billion." (The original clip has since been scrubbed from the internet, which is suspicious in itself.) If Nvidia doubles down, that's a major catalyst.
Rumor #2: The U.S. government is buying a stake. This sounds wild, but former Attorney General William Barr publicly discussed this years ago. The idea is that U.S. telecom infrastructure relies too heavily on foreign tech, and Nokia—paired with Nvidia—could create a true competitor to China's Huawei. Nokia has pledged $4 billion in U.S. investment and is opening a new Bell Labs HQ in New Jersey in 2028. Plus, Finnish Prime Minister Alexander Stubb is reportedly one of President Trump's closest European confidants. Nokia was a hot topic during Stubb's October 2025 White House visit.
Rumor #3: Google is closing a massive deal. recently raised Nokia's price target and cited Google just announced , with even more planned for 2027. That money has to go somewhere. Nokia has partnered with Google Cloud since 2020, expanding into AI-powered network automation in 2025. A hyperscaler-scale infrastructure deal could be enormous.
