Nvidia finalizes payment of US$1 bln, acquires over 4 pct stake in Naver

Yonhap News Agency · Kang Jae-eun · 2026-11-06 07:36 UTC

SEOUL, Nov. 6 (Yonhap) -- Nvidia Corp. has finalized its payment of US$1 billion...

SEOUL, Nov. 6 (Yonhap) -- Nvidia Corp. has finalized its payment of US$1 billion of investments to Naver Corp. on Friday and acquired 4.13 percent of the portal operator's shares through a third-party rights offering.

The South Korean company said it has issued over 6.5 million shares through a private placement involving the U.S. chipmaker, after receiving 1.3 trillion won (US$1 billion) in proceeds, according to its regulatory filing.

Nvidia's stake acquisition of Naver is set to speed up their joint artificial intelligence (AI) factory venture announced in June. Naver plans to construct graphics processing unit (GPU)-based infrastructure, starting with its Gak Sejong data center in the central city, to expand its GPU-as-a-service businesses.

Read the full story at Yonhap News Agency · All coverage of this story