Naver executed a third-party capital increase of $1 billion (approximately 1.48 trillion won) targeting NVIDIA, enabling NVIDIA to acquire a 4.5% stake (7.241 million shares) and become Naver's third-largest shareholder following the National Pension Service and BlackRock. This marks Naver's first capital raise in 22 years and follows a gigawatt-scale AI Factory construction agreement announced last month. The strategic investment agreement was signed with attendance from Naver Board Chairman Lee Hae-jin, CEO Choi Soo-yeon, and NVIDIA CEO Jensen Huang. Separately, the South Korean government has initiated review of National Growth Fund support for a 550 trillion won AIDC (Artificial Intelligence Data Center) mega-project, with a cross-ministerial task force involving the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy now operational.
Naver Executes $1 Billion Capital Raise with NVIDIA as Investor
Naver conducted a third-party allocation capital increase of $1 billion (approximately 1.48 trillion won) with NVIDIA as the sole investor. Through this transaction, NVIDIA secured 7.241 million shares representing a 4.5% ownership stake in Naver, positioning NVIDIA as the company's third-largest shareholder behind the National Pension Service and BlackRock. This represents Naver's first capital increase in 22 years. The investment serves as a follow-up measure to the gigawatt-scale AI Factory construction agreement announced last month. A strategic investment contract was executed with Naver Board Chairman Lee Hae-jin, CEO Choi Soo-yeon, and NVIDIA CEO Jensen Huang in attendance. Naver also decided to cancel 4.9 million treasury shares worth approximately 1 trillion won on the third of next month.
South Korean Government Reviews National Growth Fund Support for 550 Trillion Won AIDC Project
The South Korean government is reviewing National Growth Fund support for a 550 trillion won AIDC (Artificial Intelligence Data Center) mega-project. A cross-ministerial task force involving the Ministry of Science and ICT and the Ministry of Trade, Industry and Energy has been activated. The first-phase AIDC being pursued by SK, GS, and Naver has a total capacity of 8.4 gigawatts (GW). SK Telecom decided to pursue cooperation with Anthropic on a domestic GW-scale AIDC project. The government maintains a policy of investing more than 40% of National Growth Fund supply in regional areas. Analysis suggests policy support will concentrate on AIDC projects located in non-metropolitan regions considering large-scale power demand outside the capital area.
CXMT Surges 465% on Shanghai Stock Exchange Debut
CXMT, China's largest DRAM manufacturer, closed its first trading day on the Shanghai Stock Exchange at 49 yuan, approximately 465.82% above its offering price, reaching a market capitalization of 3.28 trillion yuan and ranking first among mainland Chinese stocks. The company raised up to 66.61 billion yuan (approximately 14.44 trillion won) through this IPO, which will be allocated to production line expansion and DRAM technology advancement. Samsung Electronics and SK Hynix stocks temporarily declined 1-3% in early trading following the listing. Nomura Securities presented a target price of 116 yuan for CXMT, while Goldman Sachs projected CXMT's production capacity could double by 2030 and potentially surpass Micron. However, CXMT currently mass-produces 16-nanometer DRAM, assessed as 2-3 years behind Samsung Electronics and SK Hynix's 10-nanometer processes.
FAQ
What stake did NVIDIA acquire in Naver through the capital raise?
NVIDIA acquired a 4.5% stake in Naver, totaling 7.241 million shares, through a $1 billion third-party capital increase. This investment makes NVIDIA Naver's third-largest shareholder following the National Pension Service and BlackRock.
What is the scale of the AIDC mega-project under government review?
The AIDC (Artificial Intelligence Data Center) mega-project under South Korean government review totals 550 trillion won. The first-phase AIDC being pursued by SK, GS, and Naver has a combined capacity of 8.4 gigawatts (GW), with a cross-ministerial task force now reviewing National Growth Fund support.
How did CXMT perform on its Shanghai Stock Exchange debut?
CXMT closed its first trading day at 49 yuan, representing a 465.82% surge above its offering price. The company achieved a market capitalization of 3.28 trillion yuan, ranking first among mainland Chinese stocks, and raised up to 66.61 billion yuan (approximately 14.44 trillion won) through the IPO.
