Nvidia has completed its artificial intelligence (AI) factory investment by paying approximately 1.34 trillion won to Naver. The payment makes Nvidia Naver’s third-largest shareholder. Naver is accelerating its AI infrastructure business through the construction of AI factories.
According to the Financial Supervisory Service’s electronic disclosure system on November 6, Naver disclosed that Nvidia had fully paid 1.3412 trillion won for new shares issued through a third-party allotment.
The capital increase involves the issuance of 6,558,435 new common shares. It gives Nvidia a 4.13% stake in Naver, behind the National Pension Service at 9.49% and BlackRock at 7.31%. The investment amount remains unchanged, but exchange rate movements reduced the number of new shares to be issued, lowering Nvidia’s expected stake from 4.54% to 4.13%.
Naver had previously signed an agreement with Brookfield to secure up to $9 billion, approximately 12.1941 trillion won, in computing infrastructure, fulfilling a prerequisite for Nvidia’s equity investment.
Related articles
Naver will accordingly use the funds raised from Nvidia to expand supplies of high-performance graphics processing units (GPUs) and technical cooperation. Funds received from Brookfield will be used to develop the infrastructure and supply chains needed to operate gigawatt-scale AI factories.
Naver will begin operating a 55 MW AI factory in the first half of 2027 and expand its capacity to 200 MW in 2028. It will expand the business in stages, using its hyperscale Gak Sejong data center as the central location.
Original Korean article: ZDNet Korea
English brief by Korea Wind Intelligence, koreawindintel.com
