Naver, a South Korea-based internet and technology company, said on August 3 it had outlined financing for the first phase of its planned 1 gigawatt (GW) AI factory.

Nvidia plans a US$1 billion equity investment, while Brookfield has agreed to a nonbinding term sheet for up to US$9 billion through a special purpose vehicle.

The first 200-megawatt (MW) phase is planned for Naver’s Gak Sejong hyperscale data center in Sejong, South Korea.

Under Naver’s earlier roadmap, the rollout is due to start at 55 MW in the first half of 2027, then rise to 100 MW that year and 200 MW by 2028.

Naver said it will set up a wholly owned operating company that will pay the vehicle for computing use instead of buying all the equipment itself. The company said Nvidia’s planned investment is also intended to help secure GPU supply.

Naver granted Brookfield a 12-week exclusive negotiation period, temporarily suspending talks with other potential investors. The 1 GW target would be about 4x the maximum capacity of the Gak Sejong data center.

🔗 Source: Chosun Daily

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