Nvidia finalizes payment of $1 bil., acquires over 4% stake in Naver
Nvidia Corp. has finalized its payment of $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 ($1 billion) in proceeds, according to its…
Nvidia has finalized its $1 billion investment in Naver Corp., acquiring a 4.13% stake in the South Korean portal operator through a third-party rights offering. The transaction, detailed in Naver's regulatory filing, saw the issuance of over 6.5 million shares, generating 1.3 trillion won ($1 billion) in proceeds. This move is expected to accelerate their joint artificial intelligence (AI) factory venture, with Naver planning to build GPU-based infrastructure, starting with its Gak Sejong data center, to expand its GPU-as-a-service offerings.
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- Nvidia finalizes payment of $1 bil., acquires over 4% stake in Naver koreatimes.co.kr
