Naver Shares Surge on Nvidia $1 Billion Investment
Naver Corp’s shares climbed nearly 8% on Monday, reaching a one‑month high—their strongest level since June 22—and outperformed the broader KOSPI, which fell about 1%.
Nvidia’s $1 Billion Equity Purchase
In a regulatory filing, Nvidia Corporation disclosed that it will purchase $1 billion of newly issued Naver shares. The proceeds are earmarked to finance an artificial‑intelligence data centre that Naver plans to more than triple in size.
Data‑Centre Development Details
The AI data centre is being built in partnership with Brookfield and will operate on Nvidia’s AI computing hardware. This expansion forms part of a wider collaboration that also includes an alliance with South Korea’s SK Group, which aims to construct more than two gigawatts of AI data‑centre capacity across the country.
Expected Business Impact
The combined initiatives are projected to generate over $500 billion in business, driven by purchases of memory chips and AI supercomputers.
Contextual Highlights
The announcements coincided with South Korean President Lee Jae Myung’s visit to Silicon Valley. Nvidia’s chief executive Jensen Huang highlighted the strategy of fostering sovereign AI capabilities and reducing reliance on a limited set of hyperscale cloud providers.