Telenor Q2 2026 Capex Rises 3.7 Percent as AI Factory, 5G Networks and IT Transformation Drive Investments

Telenor increased capital investment during the second quarter of 2026 as it accelerated AI infrastructure deployment, IT transformation and mobile network modernization across its Nordic and Asian operations. Telenor CEO Benedicte Schilbred Fasmer Capital expenditure (excluding leases) rose 3.7 percent year-on-year to NOK 2.63 billion, while the group’s capex-to-sales ratio increased to 14.5 percent from 13.3 percent a year earlier. During the first half of 2026, capex excluding leases reached