Naver Unveils $10 Billion AI Factory Project Structure with Nvidia and Brookfield

Naver has unveiled the structure of its AI Factory project, a $10 billion initiative developed in partnership with Nvidia and Brookfield. The project's first phase will deploy 200 megawatts (MW) of AI infrastructure, up from an initial target of 55 MW.

Under the proposed framework, graphics processing units (GPUs) and data center assets will be owned by a special-purpose vehicle (SPV) led by Brookfield. Naver will sell computing capacity to customers through a separate operating subsidiary, retaining full ownership of the subsidiary.

Nvidia will make a $1 billion equity investment in Naver, while also supplying GPUs to the SPV. The arrangement effectively links equity investment with large-scale GPU sales, securing a long-term customer for Nvidia.