Shares of South Korea's internet giant Naver jumped more than 10% on Monday after the company announced that Nvidia will invest $1 billion in new shares to finance the expansion of an AI data centre.
Nvidia will acquire 7.2 million new shares at 204,500 won each, a 1% discount to Friday's closing price. With this investment, Nvidia would own a 4.5% stake in Naver, making it one of the company's biggest shareholders.
Naver, Nvidia, and Brookfield announced plans on Friday to expand Naver's AI data centre in South Korea with up to $10 billion in funding. Brookfield will provide up to $9 billion as the project's capital partner.
The data centre will be built at Naver's existing GAK facility in Sejong, South Korea, using Nvidia's Vera Rubin and Blackwell chip platforms. It is expected to have a capacity of 200 megawatts by 2028.
As of the end of 2025, Naver's biggest shareholder was the National Pension Service with a 9.25% stake, while BlackRock Fund Advisors held 6.12%.
In June, Naver and Nvidia agreed to jointly develop gigawatt-scale global AI infrastructure to meet sovereign AI demand from Asia-Pacific, Europe, and the Middle East. One gigawatt is about four times the maximum capacity of GAK Sejong, currently South Korea's largest hyperscale data centre operated by Naver.