Naver sets issuance of 6,558,435 shares to Nvidia as part of $1 billion investment
Key Facts
Naver set the issuance of 6,558,435 new shares to Nvidia at 204,500 won per share, an execution step in a planned $1 billion investment. According to a ChosunBiz report published on November 3, 2026, Nvidia is expected to hold about 4.13% after completing payment scheduled for November 6. The US company will become Naver’s third-largest shareholder, the report said. The share count and price were set after the investment plan was announced in July, while the investment’s dollar value remained unchanged. The investment links Nvidia to a project to expand AI factory infrastructure in South Korea.
Naver said total won-denominated funding linked to Nvidia’s investment was fixed at 1.3412 trillion won. The company attributed the difference between the share count and preliminary figures to exchange-rate movements, confirming that the dollar-denominated amount had not changed. Under terms announced by Nvidia on July 24, the company plans to invest $1 billion in Naver. Nvidia also made completion of its investment conditional on Naver securing at least $9 billion in committed financing for the project, separate from its investment. Brookfield had entered into a non-binding term sheet to provide up to $9 billion in financing, according to Nvidia’s statement.
The financing arrangement gives the project’s participants different roles: Nvidia contributes capital and provides computing platforms, while the larger financing is tied to the infrastructure being developed. Nvidia said Brookfield had entered into a non-binding term sheet to provide up to $9 billion in financing, a funding ceiling rather than financing fully confirmed in the statement. Securing at least $9 billion in committed financing remains a stated condition for closing Nvidia’s investment. That condition gives project-related financing a direct bearing on the transaction’s execution. Nvidia’s $1 billion investment remains separate from the Brookfield amount, according to the company’s statement.
The expanded infrastructure is to be built at Naver Cloud’s hyperscale GAK Sejong Center in Sejong, South Korea. Nvidia said the project will use the DSX platform, part of its plan to expand South Korea’s national AI infrastructure. The center’s location establishes a clear operational component of the project alongside the financing and shareholding. It also links Nvidia’s investment directly to the expansion of a specified data facility, rather than limiting the announcement to a capital injection into Naver. The plan thus connects the investor’s participation, the infrastructure site and the platform Nvidia said would be used in the buildout.
Naver shares rose more than 10% on July 27 after the company announced that Nvidia would acquire $1 billion worth of new shares. That market move relates to the initial announcement in July and does not represent the market’s response to the share issuance details announced in November. The share-price gain followed the announcement that Nvidia would come in as an investor, before the share count and issue price were set in the subsequent disclosure. This background shows that the November announcement moved the plan into execution details, while the price reaction cited in the sources dates to July. The available evidence did not include a reading of Naver’s share-price movement on November 3.
The next announced step is payment for the shares on November 6, the date after which Nvidia’s stake is expected to be fixed at about 4.13%, according to the ChosunBiz report. Nvidia’s July statement had made completion of its investment subject to customary closing conditions and Naver securing at least $9 billion in committed financing for the project. Nvidia said its planned investment was $1 billion, while it described Brookfield’s term sheet as non-binding and covering financing of up to $9 billion. These conditions set the financial closing path alongside payment for the shares. After payment, the expected stake and Nvidia’s position as Naver’s third-largest shareholder will be the direct stated outcomes of the issuance.