Naver Delays NVIDIA's $1B Share Payment to Nov. 6, Stake Not Closed
Naver's amended filing, reported by Edaily, moves NVIDIA's payment for new shares from Oct. 30 to Nov. 6 and the listing to Nov. 27. The 4.54% stake stays expected, not closed.
Chips & Power DeskEdited by Ege Erten
2 min readAI-assisted
Follows our story: Naver Signs Up to $9 Billion Brookfield Deal for AI Infrastructure
Naver's amended filing moves the payment from Oct 30 to Nov 6 and the listing from Nov 20 to Nov 27; the stake is not closed.
Illustration (AI-generated)
Naver Corp. moved NVIDIA's $1 billion share payment from Oct. 30 to Nov. 6, a one-week delay set out in an amended regulatory filing on Oct. 30, so the investment has not closed yet.
The payment moves from Oct 30 to Nov 6 and the listing to Nov 27; both new dates are scheduled, not completed.
Illustration (AI-generated)
The filing also moves the listing of the new shares from Nov. 20 to Nov. 27, according to Edaily and the Korea JoongAng Daily. The final share count and won amount will be fixed on Nov. 3 using the average exchange rate published by Seoul Money Brokerage Services. Preliminary figures are 7,241,564 shares at 204,500 won each, or about 1.4809 trillion won at 1,480.9 won per dollar.
This follows the Brookfield agreement Voltgrid reported on Oct. 28, which Naver signed on Oct. 27. NVIDIA first announced the investment on July 27, and it was conditional on Naver securing at least $9 billion in computing infrastructure. Naver said in the Oct. 30 filing that this condition is met.
What the stake changes
Once payment is complete, NVIDIA is expected to hold about 4.54% of Naver, behind the National Pension Service at 9.49% and BlackRock at 7.31% as of August, according to Edaily and BusinessKorea. Founder and chairman Lee Hae-jin would be diluted from 4.03% to about 3.84% and drop from third to fourth. Both reports say the final percentages depend on the confirmed share count.
NVIDIA's shares will be registered with the Korea Securities Depository and cannot be withdrawn or sold for one year, according to Edaily. Naver plans to put the proceeds into AI factory businesses.
Capacity behind the money
For power and data-center planners, the equity is the smaller half of the package. Brookfield is to fund up to $9 billion of GPUs and data centers through a special purpose vehicle, with Naver Cloud operating the capacity. BusinessKorea reports a 55 MW AI factory in the first half of 2027, anchored by Naver's GAK Sejong hyperscale data center, and 200 MW by 2028. BusinessKorea also cites a longer-term goal of 1 gigawatt. Neither outlet says whether those figures are IT load or grid connection.
NVIDIA is expected to supply technology support centered on its DSX AI infrastructure platform, according to BusinessKorea. The JoongAng Daily adds that Naver Cloud will charge corporate customers, pay Brookfield for the infrastructure and keep the difference, which leaves Naver needing enough customers to fill the capacity.
What is not confirmed yet
The payment itself is scheduled, not completed. Naver has said it will file another amended disclosure with the final issuance details after the Nov. 3 exchange-rate fixing. Until the Nov. 6 payment is reported, NVIDIA's 4.54% stake and its third-place ranking remain expected figures, and the share count can still change with the exchange rate.
