Naver posts record revenue, lands 2 trillion won AI factory deal

Naver reported a sixth straight quarter of record revenue, 3.4724 trillion won in the third quarter, and said it has signed a computing service supply contract worth about 2 trillion won for its AI Factory business, securing an initial customer for about 20 megawatts of capacity.

Why it matters: The contract gives Naver's AI data centre venture, pursued with Brookfield and Nvidia, its first paying customer, and the company says it is in talks with more than 10 further companies for the remaining 180 megawatts of its first phase.

Data as of Yonhap report of November 12, 2026, in Korean, read in full via the estate browser route; figures are Naver's third quarter consolidated results as disclosed the same day. The AI Factory customer is described by Naver only as a US artificial intelligence inference company and is not named. Developing item.

Naver’s third quarter revenue rose 10.7 percent year on year to a record 3.4724 trillion won, its sixth consecutive quarterly record, while operating profit fell 20.9 percent to 451.3 billion won as the company stepped up investment in AI infrastructure, content and offline data. Growth came from commerce, payments and its global person to person trading businesses, including Wallapop and Poshmark.

Chief executive Choi Soo-yeon said Naver has signed a computing service supply contract worth about 2 trillion won for its AI Factory business, securing an initial customer for roughly 20 megawatts of capacity, with revenue to begin as commercial service starts in the first half of next year. Chief financial officer Kim Hee-cheol said the company is discussing further supply contracts with more than 10 companies covering about 180 megawatts, the balance of its 200 megawatt first phase target.

Naver posts record revenue, lands 2 trillion won AI factory deal

Sources