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Naver stock jumps after Nvidia buys $1 billion stake
Naver said the AI data center expansion will reach 200 megawatts of capacity by 2028, with Brookfield providing up to $9 billion in financing.
South Korean internet and cloud service firm Naver shares rose more than 10% after the company said Nvidia will acquire $1 billion of its new shares to fund an expansion of an AI data center. Reuters reported the deal highlights a deepening partnership as the two companies pursue global AI infrastructure tied to sovereign AI demand across Asia-Pacific, Europe, and the Middle East.
Under the agreement, Naver plans to place 7.2 million new shares with Nvidia at 204,500 won each, a 1% discount to Naver’s closing price on Friday, Reuters said. Brookfield will provide up to $9 billion as the project’s capital partner, Naver added, taking the total funding to as much as $10 billion for the first step.
Reuters also said Nvidia would become one of Naver’s biggest shareholders with a 4.5% stake once the transaction is completed. The National Pension Service holds a 9.25% stake, and BlackRock Fund Advisors has a 6.12% stake as of end-2025, according to the company.
The expansion is set to be built at Naver’s GAK data centre in Sejong, South Korea, using Nvidia’s Vera Rubin and Blackwell chip platforms. Naver said the facility will have capacity of 200 megawatts by 2028, as the companies continue work on gigawatt scale AI infrastructure they announced in June.