Naver Signs AI Computing Contract Worth 2 Trillion Won With 20-Megawatt Capacity
Key Facts
Naver signed a computing services contract worth about 2 trillion won, securing an initial customer for its AI factory business, the company said in an announcement on November 12, 2026. The company said the contract’s value corresponds to capacity of about 20 megawatts. The agreement runs for about four to five years, according to Naver’s earnings call. Operations will combine the B300 and Vera Rubin platforms. The agreement gives the project contracted revenue over several years as Naver works to expand the factory’s customer base.
In a parallel development, Naver is in talks with Nvidia over a server order contract that the company described as the largest in the Asian region, EDaily reported. Naver has not disclosed the order’s size or when it will be signed. The negotiations concern prices for the latest processing units, according to coverage by Seoul Economic Daily. The company said a limited number of data centers have the dense power and cooling infrastructure needed to operate Vera Rubin at scale. Naver said this constraint strengthens its negotiating position on prices.
The deal follows an announcement by Naver, Nvidia and Brookfield of an expansion plan for the AI factory at the GAK Sejong data center. The earlier plan called for capacity to rise from 55 megawatts at launch to 200 megawatts by 2028. Naver said on its third-quarter earnings call that the data center capacity it had secured through contracts had exceeded its stated 2028 target. That places the new contract within a broader infrastructure expansion as the company seeks additional agreements with major customers. Naver said it would continue negotiating medium- and long-term contracts while expanding its customer base to include global AI companies with high growth potential.
The deal reflects intensive investment that coincided with Naver’s revenue growth and a decline in operating profit in the third quarter of 2026. Sales rose 10.7% year over year to 3.47 trillion won, while operating profit fell 20.9% to 451.3 billion won, Yonhap reported. The company attributed the decline in profit to increased spending to strengthen its competitiveness in AI. Investments included infrastructure, content and offline data. Naver said growth in commerce, its financial platform and global buying and selling businesses supported the revenue increase in the same quarter.
Naver announced in July a plan to finance infrastructure expansion, including a planned $1 billion investment from Nvidia and up to $9 billion in financing from Brookfield. That plan provides financing context for the factory project Naver aims to expand, while the announced computing contract adds an initial customer and service-related revenue. In the market, EL7 data showed Nvidia shares closed at $173.73 on November 11, 2026. Naver has not disclosed the size or signing date of the ongoing server order negotiations. The company said it would continue pursuing long-term contracts and expanding its global customer base.