South Korea's Naver jumps 10% on Nvidia's US$1 billion investment plan
- SEOUL: Shares of South Korea's internet giant Naver jumped more than 10 per cent on Monday (Jul 27) after it said Nvidia would acquire US$1 billion of its new shares to finance a project to expand an AI data centre.
- The investment comes after the two firms and investment group Brookfield announced on Friday plans to expand Naver's AI data centre in South Korea with up to US$10 billion in funding.
- Naver said on Monday it will place 7.2 million new shares with Nvidia for 204,500 won each, or a 1 per cent discount to its closing price on Friday, as part of the agreement.
Unverified
- SEOUL: Shares of South Korea's internet giant Naver jumped more than 10 per cent on Monday (Jul 27) after it said Nvidia would acquire US$1 billion of its new shares to finance a project to expand an AI data centre.
- The investment comes after the two firms and investment group Brookfield announced on Friday plans to expand Naver's AI data centre in South Korea with up to US$10 billion in funding.
- Naver said on Monday it will place 7.2 million new shares with Nvidia for 204,500 won each, or a 1 per cent discount to its closing price on Friday, as part of the agreement.
Sources: CNA