Nvidia plans $1 billion investment in Naver; shares surge 10%

Published Jul 26, 11:04 PM UTC

Shares of South Korean internet and cloud giant Naver surged over 10% after announcing that Nvidia will acquire $1 billion of its new shares to fund an AI data center expansion. The deal is part of a deepening partnership between the two firms, which in June agreed to jointly build global AI infrastructure. As a first step, Naver, Nvidia, and investment group Brookfield announced plans to expand Naver's AI data center in Sejong, South Korea, with up to $10 billion in funding. Brookfield will provide $9 billion as capital partner. Nvidia will own a 4.5% stake in Naver, becoming one of its largest shareholders. The expansion will use Nvidia's Vera Rubin and Blackwell chips and reach 200 megawatts by 2028. Nvidia CEO Jensen Huang stated that Naver would become 10 times larger once the vision is realized, emphasizing the strategy for nations to build and control their own AI infrastructure.