Nvidia has committed $1 billion to South Korea’s tech giant Naver, aiming to expand AI data center capacity and accelerate the company's crypto ambitions. This fresh capital is part of a broader funding effort connected to Naver's intent to acquire Dunamu, the operator behind the leading Korean crypto exchange Upbit.
AI Powerhouse Expansion
The recent deal involves Nvidia purchasing newly issued shares of Naver, injecting fresh capital directly into the company rather than buying in secondary markets. The funds are earmarked for tripling Naver’s AI data center capacity at its GAK Sejong hyperscale facility, jumping from 55 MW up to 200 MW by 2028. This push supports Nvidia's newly launched DSX platform, branded its "AI factory," designed to bolster sovereign AI infrastructure, especially in South Korea where government and private investments are ramping up.
Naver already reported revenues near $8.18 billion (KRW 12.04 trillion) in 2025, positioning it solidly in the market as it blends search, e-commerce, AI, and crypto domains under one umbrella.
The $1 billion stake from Nvidia is part of a larger $10 billion-plus financing deal which includes a non-binding term sheet from Brookfield, expected to provide up to $9 billion should Naver secure further funding. Nvidia’s investment helps Naver meet these financial thresholds and deepens the partnership between both companies.
Crypto Ambitions: The Dunamu Acquisition
At the heart of this strategy lies Naver's ongoing $10.3 billion bid to acquire Dunamu, owner of Upbit, South Korea's dominant cryptocurrency exchange. Combining Naver’s massive internet infrastructure with Upbit’s crypto trading platform powered by Nvidia’s AI capabilities offers a rare convergence of industries, blending online search, commerce, AI, and digital assets effectively.
For Nvidia, this deal is more than just an investment: it firmly establishes its presence in Asia’s expanding AI market and guarantees a substantial, long-term client for its hardware and software solutions. Similarly, Nvidia is also working with South Korea’s SK Group on next-generation memory chip ventures worth reportedly over $500 billion, further cementing its regional footprint.
Should Naver finalize both Nvidia's investment and the Dunamu takeover, the company would oversee an integrated technology ecosystem unmatched in South Korea’s tech landscape.
