NAVER Raises USD 1 Billion From NVIDIA to Expand AI Factory Business - Wowtale
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NAVER is raising USD 1 billion (about 1.34 trillion won) from NVIDIA and will put the money toward expanding its AI factory business, the company disclosed on October 30. In a corrected filing on its paid-in capital increase, NAVER confirmed November 6 as the payment date for the third-party allotment to NVIDIA, which the company resolved in July. The listing date for the new shares has moved from November 20 to November 27. In July, NAVER announced a USD 10 billion AI factory project with Brookfield and NVIDIA. As part of that arrangement, NVIDIA will invest a total of USD 1 billion at an issue price of about USD 138 (204,500 won) per share, using the board-resolution-eve rate of 1,480.9 won per dollar. That gives NVIDIA a stake of about 4.8% and makes it NAVER's third-largest shareholder. The final number of shares will be set on November 3, three business days before the payment date. NAVER will convert USD 1 billion into won at the SEOUL MONEY BROKERAGE average market rate for that day and divide the result by the issue price. At the 1,480.9 won-per-dollar rate, the provisional amount raised is about USD 1 billion (1.4809 trillion won). The entire proceeds will go toward "new business related to the AI factory," classified as other funds. At the same exchange rate, planned spending is about USD 3.4 million (5 billion won) in 2026, about USD 467 million (692 billion won)...
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