South Korea’s Naver jumps 10% on Nvidia’s $1 billion investment plan

SEOUL: Shares of South Korean internet and cloud service giant Naver jumped more than 10% on Monday after it said Nvidia would acquire $1 billion of its new shares to finance a project to expand an AI data centre.

The investment comes after the two firms and investment group Brookfield announced on Friday plans to expand Naver’s ‌AI data ⁠centre ⁠in South Korea with up to $10 billion in funding.