Naver Triplets Data Center Capacity with Nvidia Partnership
Naver, South Korea's tech conglomerate, is embarking on an ambitious AI infrastructure expansion through its partnership with Nvidia. The company plans to triple the size of its data center facility at Gak Sejong, adding 55 megawatts of capacity by 2027.
The $6.8 billion in external financing Naver is seeking includes a government-backed loan from South Korea's Financial Services Commission and discussions with investment firm Brookfield.
This massive infrastructure play aligns with other AI initiatives across the region, including collaborations with companies like SK hynix, South Korea's memory chip giant.
Naver's acquisition of Dunamu, the operator of Upbit (South Korea's dominant crypto exchange), in a $10.3 billion all-stock deal last November adds to its growing interests in AI infrastructure, fintech, blockchain, and crypto trading.