Naver

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Nvidia completes $1 billion Naver investment, takes 4.13% stake

Building GPU data centers with Nvidia and Brookfield

Nvidia paid 1.34 trillion won ($1 billion) for 6.56 million new Naver shares on November 6, giving it a 4.13% stake. That makes the chipmaker Naver's third-largest shareholder, behind the National Pension Service and BlackRock.

Updated 5 days ago

South Korea directs $880 billion private buildout into chips and AI data centers

Money Moves

Expanding AI data centers with $10 billion in Nvidia and Brookfield backing

South Korea's chip buildout is producing contracts on several fronts. On November 2, Industry Minister Kim Jung-kwan said the three mega projects total 1,600 trillion won, about 60% of GDP in the year work starts, and promised faster permits to bring fab start-ups forward by more than two years. Samsung and SK Hynix have signed long-term memory supply deals with customers, and OpenAI's Sam Altman visited Seoul to talk with SK Group about HBM and data centers.

Updated Nov 2