NAVER signs $9 billion AI infrastructure deal with Brookfield

[Financial News] NAVER is joining forces with global asset manager Brookfield to secure $9 billion (about 12 trillion won) worth of artificial intelligence (AI) computing infrastructure. Brookfield will provide the funding, NAVER Cloud will operate the AI infrastructure, and NVIDIA Corporation will support next-generation computing technology. The three companies plan to press ahead with building a 1-gigawatt (GW) AI factory based on their close collaboration and accelerate the expansion of their global AI infrastructure business.
NAVER said on the 27th that it had signed a contract with Brookfield to secure $9 billion worth of computing infrastructure. The deal meets a prerequisite for a strategic equity investment by NVIDIA Corporation. NAVER also plans to promptly complete the process for a paid-in capital increase through a third-party allotment to NVIDIA Corporation. Details of the capital increase will be disclosed later.
The core of the partnership is a structure in which Brookfield provides funding to secure AI infrastructure, and NAVER Cloud uses it to operate the AI factory business. Brookfield will establish a special-purpose vehicle (SPV) tentatively named “Asset Co.”, invest up to $9 billion, and secure AI infrastructure, including graphics processing units (GPUs) and data centers. It will then provide computing resources to NAVER Cloud, the operator of the AI factory. Asset Co. will be established with 100% of its capital provided by Brookfield and, because NAVER is deemed to exercise control under Korean International Financial Reporting Standards (K-IFRS), will be consolidated as a subsidiary of NAVER.
NAVER and NAVER Cloud will lead the business, drawing on their expertise in building and operating their own GPU clusters and their know-how in data center operations. NVIDIA Corporation will provide technical collaboration focused on its next-generation high-performance computing platform, DSX, among other technologies, to improve infrastructure operating efficiency and technological competitiveness. The companies will divide responsibility for funding, infrastructure acquisition, operational capabilities, and core technologies.
The scale of the business will also expand in stages. NAVER plans to begin operating 55 megawatts (MW) of capacity in the first half of 2027 and increase operating capacity to 200 MW in 2028. It will expand the business into overseas markets, using Naver Data Center GAK Sejong, a hyperscale data center, as a key hub. In the long term, the companies will jointly pursue a global AI factory business with capacity of 1 GW.
The deal is seen as laying the groundwork for NAVER to reduce the funding burden as it expands its AI infrastructure business. That is because growing computing demand for training AI models and operating services requires massive investment to secure GPUs and data centers. NAVER’s strategy is to use Brookfield’s investment to secure infrastructure and reduce its initial financial burden through a structure in which NAVER Cloud pays usage fees linked to business revenue.
NAVER has agreed to provide a payment guarantee for up to eight years covering the usage fees owed by its subsidiary, NAVER Cloud. NAVER says the measure is intended to ensure confidence in the fulfillment of the contract, and that the guarantee itself does not immediately entail an actual cash outlay or expense.
Expanded cooperation with NVIDIA Corporation also has important implications for NAVER’s AI infrastructure strategy. If NVIDIA Corporation’s strategic equity investment and technical cooperation proceed as planned, NAVER will be able to strengthen its collaborative foundation in core computing technologies, including GPUs. The aim is to meet large-scale AI computing demand by combining Brookfield’s capital, NAVER’s infrastructure operating capabilities, and NVIDIA Corporation’s technology.

[email protected] Jang Min-kwon Reporter