Naver Shares Rise Over 10% After Nvidia Announces $1 Billion Investment
Shares of South Korean internet giant Naver surged more than 10% after the company announced that U.S. chipmaker Nvidia will invest $1 billion by purchasing new shares to fund an AI data center expansion project. The investment is part of a broader partnership between Naver and Nvidia, which in June agreed to build global AI infrastructure targeting sovereign AI demand across regions like Asia-Pacific, Europe, and the Middle East. As part of this initiative, Naver will issue 7.2 million new shares at a slight discount to its closing price on Friday. Investment firm Brookfield is also involved, providing up to $9 billion in financing for the project. With this investment, Nvidia will own a 4.5% stake in Naver, becoming one of its largest shareholders.
Topics: AI infrastructure data center expansion share price movement strategic partnership