Naver to Target Global AIDC Market with Full-Stack Capabilities
NVIDIA Acquires 4.5% Stake in Naver with $1 Billion Investment
$9 Billion External Funding via Brookfield Also Secured
Naver to Burn 1 Trillion Won in Treasury Shares
Naver is accelerating its global artificial intelligence (AI) infrastructure business through direct investment from NVIDIA and financial collaboration with Brookfield. NVIDIA is set to become a top 3 shareholder by acquiring a 4.5% stake in Naver, while the company pursues its largest-ever external funding via Brookfield.
Naver announced on the 27th that it will proceed with a $1 billion (approximately 1.46 trillion won) third-party capital increase targeting NVIDIA. NVIDIA will invest $1 billion to acquire 7,241,564 ordinary shares of Naver, representing a 4.5% stake. The payment date is scheduled for October 30.
NVIDIA's investment follows the “gigawatt (GW)-scale global AI factory construction agreement” announced by the two companies last month. This marks Naver's first third-party capital increase since its 2008 Kospi listing, or 22 years since its KOSDAQ debut.
The move signifies strengthened strategic cooperation between the two companies for AI infrastructure. NVIDIA's stake exceeds the ownership percentage held by Naver Chairman Lee Hae-jin.
An industry insider noted, “NVIDIA is not just a business partner but becomes a shareholder, taking responsibility for Naver's growth.”
Naver has selected Brookfield, a global alternative asset manager, as the exclusive negotiation partner for securing GPU infrastructure and data centers worth $9 billion (approximately 13.16 trillion won). Brookfield will handle funding up to $9 billion, marking Naver's largest external capital raise since its founding.
By collaborating with NVIDIA to secure GPU supply and partnering with Brookfield for data center and power infrastructure, Naver is establishing a comprehensive AI infrastructure framework.
Naver plans to generate revenue from its AI factory project with NVIDIA starting next year. Operations will begin with 55 MW capacity in the first half of 2025, expanding to 200 MW by 2028. Long-term goals include a 1 GW infrastructure to target sovereign AI demand in Asia-Pacific, Europe, and the Middle East.
Naver CEO Choi Soo-yeon stated, “Investments from NVIDIA and Brookfield will be pivotal for Naver's future growth. We will swiftly finalize customer acquisitions for our AI factories to establish Naver as a key global AI infrastructure player.”
Meanwhile, Naver Cloud is discussing an 'AI Compute Partnership' agreement with NVIDIA to jointly advance global AI factory projects. The collaboration explores combined structures for technology alliances, customer acquisition, and capital procurement.
