Nvidia to make $1 bil. investment in Naver next week
Nvidia is scheduled to fulfill its $1 billion investment in Naver next Friday, according to the portal giant's regulatory filing Friday, a move set to make the U.S. chip giant the third-largest shareholder of the Korean IT firm. The completion of the capital increase comes as Naver was able to secure at least $9 billion in computing infrastructure, the filing said. Naver will fix the number of…
Nvidia plans to invest $1 billion in Naver next Friday, according to the South Korean tech company's regulatory filing. This move will make Nvidia the third-largest shareholder of Naver, a prominent Korean IT firm. The investment is a part of a strategic partnership between the two companies, announced in July, aimed at creating a large-scale global artificial intelligence (AI) factory.
Currently, Korea's national pension fund holds the largest stake in Naver with 9.49 percent, followed by global asset manager BlackRock with 7.31 percent. Naver will determine the exact number of shares Nvidia will acquire through a rights offering scheduled for Tuesday.
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- Nvidia to make $1 bil. investment in Naver next week koreatimes.co.kr
- Nvidia to make US$1 billion investment in Naver next week en.yna.co.kr
