Nvidia plans to acquire $1 billion in new shares of South Korea's Naver, the companies announced. The investment marks a direct capital infusion into the internet giant by the US chipmaker.
A $1 Billion Stake
The deal involves Nvidia purchasing newly issued shares from Naver, the South Korean company known for its search engine and online services. The exact percentage of ownership Nvidia will obtain was not disclosed. The $1 billion figure makes it one of the larger single investments by Nvidia in a foreign tech firm.
What the Investment Means
Nvidia, based in Santa Clara, California, is best known for its graphics processing units used in gaming, data centers, and artificial intelligence. Naver operates a range of internet services including search, e-commerce, and cloud computing. The investment could signal a deeper partnership between the two companies, though neither has detailed specific plans beyond the share purchase.
The transaction is subject to customary closing conditions. No timeline for completion has been provided.
