NVIDIA Set to Finalize $1 Billion Investment in Naver Next Week, Becoming Third-Largest Shareholder

Deep News09:20

According to a regulatory filing submitted on Friday by South Korean internet portal giant Naver, NVIDIA (NVDA) plans to complete a $1 billion investment in Naver next Friday.

This move will make the American chip giant Naver's third-largest shareholder.

The filing shows that this capital increase comes as Naver has already secured at least $9 billion in computing infrastructure funding.

Naver will determine the number of common shares that NVIDIA (NVDA) will subscribe to through a rights offering next Tuesday.

Currently, South Korea's National Pension Fund is Naver's largest shareholder with a 9.49% stake, while global asset management firm BlackRock ranks second with a 7.31% stake.

This investment is part of the strategic partnership announced by Naver and NVIDIA (NVDA) in July, with the two parties aiming to jointly build a large-scale global artificial intelligence (AI) factory.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment