Naver Signs $9 Billion AI Infrastructure Deal

Naver said in a corrected filing on the 27th that it had signed a $9 billion AI infrastructure computing contract with Brookfield. Completing the contract fulfilled a prerequisite for Nvidia’s $1 billion equity investment, and Naver plans to complete a third-party allotment of new shares. Nvidia had previously agreed to participate in that share issuance.

Brookfield will establish a special-purpose vehicle (a company created for a specific project) and invest up to $9 billion to secure infrastructure, including GPUs and data centers. It will provide computing resources to Naver Cloud, which will operate the AI factory and pay usage fees. Naver and Naver Cloud will run the business using their experience building and operating large GPU clusters and data centers.

Naver plans to begin at 55 MW in the first half of next year and expand to 200 MW by 2028. It will use its hyperscale data center Gak Sejong as the first site, then expand into overseas markets in stages, with a long-term goal of building 1 GW-class AI infrastructure. Nvidia will provide high-performance computing platforms, including DSX, and lead technical collaboration.

Naver said the arrangement uses Brookfield’s funding to spread out the initial investment burden, instead of having Naver directly own all GPU and data center equipment. Naver will guarantee Naver Cloud’s usage-fee payments for up to 8 years. The company said the payment guarantee provides credit support for fulfilling the contract and does not itself mean an immediate cash outflow.

Naver plans to grow a business that provides computing resources to domestic and international companies and public institutions through its AI factory. It intends to start at Gak Sejong, expand infrastructure overseas, and meet rising demand for AI computing. Naver said the business structure helps secure both financial stability and room to expand.

Naver said in a corrected filing on the 27th that it had signed a $9 billion AI infrastructure computing contract with Brookfield. Completing the contract fulfilled a prerequisite for Nvidia’s $1 billion equity investment, and Naver plans to complete a third-party allotment of new shares. Nvidia had previously agreed to participate in that share issuance.

Brookfield will establish a special-purpose vehicle (a company created for a specific project) and invest up to $9 billion to secure infrastructure, including GPUs and data centers. It will provide computing resources to Naver Cloud, which will operate the AI factory and pay usage fees. Naver and Naver Cloud will run the business using their experience building and operating large GPU clusters and data centers.

Naver plans to begin at 55 MW in the first half of next year and expand to 200 MW by 2028. It will use its hyperscale data center Gak Sejong as the first site, then expand into overseas markets in stages, with a long-term goal of building 1 GW-class AI infrastructure. Nvidia will provide high-performance computing platforms, including DSX, and lead technical collaboration.

Naver said the arrangement uses Brookfield’s funding to spread out the initial investment burden, instead of having Naver directly own all GPU and data center equipment. Naver will guarantee Naver Cloud’s usage-fee payments for up to 8 years. The company said the payment guarantee provides credit support for fulfilling the contract and does not itself mean an immediate cash outflow.

Naver plans to grow a business that provides computing resources to domestic and international companies and public institutions through its AI factory. It intends to start at Gak Sejong, expand infrastructure overseas, and meet rising demand for AI computing. Naver said the business structure helps secure both financial stability and room to expand.