Naver closes Brookfield and Nvidia AI factory investment

Naver has closed a $9 billion Brookfield agreement to fund AI infrastructure through a special purpose vehicle, which also satisfies the precondition for Nvidia's previously announced $1 billion strategic equity investment in the South Korean cloud company.

Why it matters: The closing moves the three companies' planned 1 gigawatt AI factory from announcement to execution, with the first 55 megawatts due live in the first half of 2027, and it is another large off-balance-sheet style funding structure for AI compute.

Data as of Datacenter Dynamics article read in full in this run, reporting Naver's own announcement. Single trade-press source reporting the company's announcement; Naver's own release was not read in this run, hence grade C. Developing item.

Naver has closed the funding for its AI factory buildout. Datacenter Dynamics reported that the South Korean cloud provider has signed a $9 billion agreement with Brookfield, under which Brookfield will set up a special purpose vehicle, tentatively named Asset Co., to invest up to $9 billion acquiring AI infrastructure such as GPUs and data centers and then supply the computing power to Naver Cloud. Naver said the closing meets the precondition for Nvidia’s previously announced $1 billion strategic equity investment.

The first 55 megawatts under the agreement is set to go live in the first half of 2027, scaling to 200 megawatts in 2028, centered on Naver’s GAK Sejong data center with overseas expansion in phases. The three companies describe the programme as a 1 gigawatt scale global AI factory business now entering full-scale execution.

Naver closes Brookfield and Nvidia AI factory investment

Sources