Nokia Corp. (NOK) has completed the sale of its wireless modem business to Renesas Electronics, the company reported. The unit was responsible for the development of Nokia’s wireless modem technologies for LTE, HSPA and GSM.
The sale and transfer of nearly 1,100 employees highlights the Finnish company’s ongoing transition away from core technology and infrastructure hardware businesses. Terms of the deal, which was first announced on July 6, were not disclosed.
Japan-based Renesas Electronics came together last April through the combination of NEC Electronics Corp. and Renesas Technology Corp.
Nokia sells modem business to Renesas Electronics
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The IEA report predicts that AI processing in the U.S. will need more electricity than all heavy industries combined, such as steel, cement and chemicals
Energy demand for AI data centers in the U.S. is expected to grow about 50 gigawatt each year for the coming years, according to Aman Khan, CEO of International Business Consultants