Nvidia Corp. is scheduled to fulfill its $1 billion investment in Naver Corp. next Friday, according to the portal giant's regulatory filing Friday, a move set to make the U.S. chip giant the third-largest shareholder of the South Korean IT firm.
The completion of the capital increase comes as Naver was able to secure at least $9 billion in computing infrastructure, the filing said. Naver will fix the number of common shares to be acquired by Nvidia via a rights offering on Tuesday.
Currently, South Korea's national pension fund is the largest shareholder with 9.49 percent, followed by BlackRock, a global asset manager, with 7.31 percent.
The upcoming investment is part of a strategic partnership between Naver and Nvidia announced in July, to establish a massive, global artificial intelligence factory. (Yonhap)
