Naver secures Nvidia’s $1b backing for AI factory push

Naver disclosed Monday that Nvidia will buy a 4.5 percent stake through a 1.48 trillion won ($1 billion) share sale, attaching binding terms to one part of the $10 billion AI infrastructure package the two companies unveiled with Canadian asset manager Brookfield in San Francisco last week.

The filing sets the issuance at 7,241,564 new common shares priced at 204,500 won each, roughly 1.4 percent below Friday's close, with payment due Oct.

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It is Naver's first third-party share allocation sin ...