NVIDIA Powers Naver AI
NVIDIA Injects $1 Billion into Naver for Massive Global AI Data Center Expansion
Anonymous
Key Points
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Naver will issue 7,241,564 new shares to Nvidia via a third-party allocation at 204,500 won per share, raising about 1.4809 trillion won; payment date is October 30 and the new shares are expected to be listed on November 20.
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Brookfield Asset Management has signed a non-binding term sheet for up to $9 billion of the roughly $9 billion computing infrastructure financing behind the AI factory buildout.
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The initial infrastructure target is 55 MW in the first half of 2027, rising to 100 MW by the end of 2027 and 200 MW by 2028, anchored at Naver's Gak Sejong hyperscale data center with plans to expand beyond Asia-Pacific to Europe and the Middle East.
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Naver plans to retire about 4,901,094 of its own shares on August 3, with the value pegged at 1,016,977,000,000 won based on the July 24 closing price, as part of a broader shareholder-return strategy.
Nvidia is investing $1 billion in South Korea's Naver Corp, acquiring a roughly 4.5% stake through a new share issue at 204,500 won per share — a direct capital injection rather than a stock market purchase, according to Seoul Economic Daily. The deal, announced July 24, sent Naver's shares up nearly 23% in pre-market trading.
The money will fund a joint buildout of what both companies call a "global AI factory" — a plan to grow Naver's data center capacity from 55 megawatts today to 200 MW by 2028, according to Crypto Briefing.
Nvidia Buys In With 7.2 Million New Naver Shares
Naver will issue exactly 7,241,564 new shares to Nvidia at 204,500 won each, raising about 1.4809 trillion won — roughly $1.08 billion, according to Seoul Economic Daily. Payment is due October 30. The new shares are expected to start trading November 20.
The deal is a third-party allotment, meaning Nvidia gets shares issued directly to it — not bought from other investors. That gives Nvidia a seat at the table as Naver's single largest strategic partner, according to Guru Focus.
Data Centers to Triple in Power by 2028
Naver's AI factory buildout follows a clear timeline. The first 55 MW comes online in the first half of 2027. That doubles to 100 MW by year-end 2027. Full capacity of 200 MW arrives in 2028, according to Crypto Briefing.
The anchor site is Naver's Gak Sejong hyperscale data center in South Korea. But the plan goes well beyond Asia-Pacific — Naver is targeting expansion into Europe and the Middle East. Nvidia will supply the GPUs. Naver will own and run the sites.
Brookfield Backs $9 Billion Infrastructure Financing
The GPU hardware and land are just one piece. The bigger financial story is a roughly $9 billion infrastructure financing package sitting behind the whole project. Brookfield Asset Management has signed a non-binding term sheet to provide up to $9 billion of that total, according to Crypto Briefing.
The deal aligns with Nvidia's DSX platform — a program where Nvidia partners closely with data center operators to build large-scale AI infrastructure. For Naver, it signals a shift from being a search and commerce company to a global AI infrastructure player.
Naver Also Eyes $10 Billion Crypto Exchange Deal
The Nvidia deal is not Naver's only big move. The company is also pursuing the acquisition of Dunamu, the operator of South Korea's largest crypto exchange, Upbit — a deal valued at about $10.3 billion, according to Crypto Briefing.
Meanwhile, Naver is buying back its own stock. The company plans to retire about 4,901,094 shares on August 3, valued at roughly 1.017 trillion won based on the July 24 closing price. The buyback is part of a broader shareholder-return strategy running alongside the Nvidia expansion, according to Seoul Economic Daily.
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