Naver Sets Nov. 6 Payment Date for Nvidia's $1 Billion Investment

Naver set Nov. 6 as the payment date for Nvidia's $1 billion investment, a transaction expected to give the chipmaker about 4.54% of the South Korean internet company.

Naver will issue new common shares directly to Nvidia. The transaction is expected to make Nvidia Naver's third-largest shareholder. Naver will determine the share count on Nov. 3 using that day's exchange rate.

Each new share is priced at 204,500 won. The shares are expected to list Nov. 27 and will be subject to a one-year sales restriction. The issuance is also expected to lower the stake of Naver's founder from 4.03% to about 3.84%.

Naver had secured at least $9 billion for computing infrastructure investment. In July, Naver and Nvidia announced a strategic partnership aimed at building large-scale AI factories for global use.