Nvidia takes 4.13% Naver stake with $1B payment for AI factory
What's the deal? Nvidia has completed a $1 billion payment for a 4.13% stake in South Korean internet company NaverDealroom has a profile for this one. Try Dealroom →, becoming its third-largest shareholder. Naver issued more than 6.5 million new shares through a private placement at US$171.5 each, raising US$1.09B, according to a regulatory filing.
What's the endgame? The investment speeds up a joint AI factory venture the two firms announced in June. Naver will build and operate graphics processing unit (GPU)-based data centers, starting with its Gak Sejong facility, while Nvidia supplies the chips.
Why now? The payment, finalized on November 6, clears a condition for the partners' AI infrastructure plans. Naver has signed a separate agreement with BrookfieldDealroom has a profile for this one. Try Dealroom → for up to $9 billion in computing infrastructure, financing a buildout that starts at 55MW in the first half of next year, scales to 200MW by 2028, and targets 1GW longer term.
The stake puts Nvidia behind the National Pension Service, at 9.49%, and BlackRock, at 7.31%. The won-denominated figure was cut by about US$117.1M from provisional estimates due to exchange-rate moves; the dollar amount is unchanged.
What could go wrong? The venture's payoff hinges on Naver turning planned GPU capacity — and the usage-fee commitments tied to it — into sustained customer demand and returns.
The signal: The deal reflects a wider push to finance AI data-center buildouts through partnerships between chipmakers, operators, and large investors, rather than leaning on a single balance sheet.
Read more: n.news.naver.com
Image credit: U.S. Army Combat Capabilities Development Command
