Nvidia has announced a significant investment in Naver, committing $1 billion to acquire a 4.5% stake in the South Korean internet giant. This investment will involve the purchase of 7,241,564 common shares through a third-party allotment, a method often used for strategic partnerships and quick capital raising.
Additionally, Naver plans to retire about 4.9 million treasury shares, valued at approximately 1 trillion won ($682 million), on August 3 to enhance shareholder value.
In a related development, Naver is collaborating with global investment firm Brookfield to secure up to $9 billion for building AI factories, with Brookfield providing the majority of this funding. Naver will use the investment to expand its AI factory at the Gak Sejong data center, located about 120 kilometers south of Seoul.
This partnership aligns with Nvidia’s role as a founding partner in Brookfield’s global AI infrastructure program.
The report highlights remarks from Naver Chair Lee Hae-jin, who spoke at the AI Summit in San Francisco, underscoring the significance of this collaboration in the evolving technology landscape.
