Nvidia completes $1 billion investment in Naver, taking a 4.13% stake

Odaily reports: According to a filing submitted by South Korean internet company Naver to regulators, Nvidia completed the payment of its $1 billion investment on Friday and acquired a 4.13% stake in Naver through a third-party allotment. Naver issued more than 6.5 million shares through a private placement, raising approximately 1.3 trillion Korean won (about $1 billion). The investment is expected to accelerate the AI factory cooperation project announced by the two companies in June this year. Naver plans to start with the Gak Sejong data center in Sejong City to build GPU-based infrastructure and further expand its GPU-as-a-Service business. (Yonhap)