NAVER

AI Infrastructure · Cloud Computing · Semiconductors

Funding

Nvidia invests $1B in Naver to fuel Korea's AI factory buildout

The stake purchase makes Nvidia the company's third-largest shareholder, behind only Korea's national pension fund and BlackRock.

• Nvidia will invest $1 billion in Naver through a third-party share placement, buying 7,241,564 new shares at 204,500 won each for a 4.5% stake, with payment due Oct. 30.
• Naver, South Korea's dominant portal and search operator, is an Nvidia Cloud Partner pushing into AI infrastructure through its Naver Cloud arm and GAK Sejong data center.
• The $1 billion is one piece of a $10 billion AI infrastructure package; Brookfield is named exclusive preferred partner to arrange up to $9 billion in project financing, still under negotiation.
• Proceeds back an expansion of the NVIDIA DSX AI factory at GAK Sejong from 55 megawatts to 200 megawatts by 2028, with Naver aiming for gigawatt-scale sovereign AI infrastructure long-term.
• It's Naver's first third-party share issuance in 22 years, since its 2008 move to the main KOSPI board, and its stock jumped as much as 9.64% on the news.
• Naver will retire 4.9 million treasury shares worth about 1 trillion won on Aug. 3 to offset dilution, while talks with Brookfield toward a binding financing deal continue.
• Nvidia is moving beyond selling chips to taking equity stakes in its cloud partners, tying its own capital to sovereign AI infrastructure bets that deepen its leverage over national AI strategies.