FINWIRES · TerminalLIVE
FINWIRES

Naver, Nvidia, Brookfield Expand South Korea AI Factory Infrastructure Plan; Shares Jump 7%

By

Naver (KRX:035420), Nvidia, and private-equity firm Brookfield proposed expanding South Korea's sovereign AI factory infrastructure by increasing the planned Nvidia DSX AI factory deployment to 200 megawatts from the 55-megawatt project announced in June, Nvidia said in a press release on Friday.

The expanded facility will be built at Naver's GAK Sejong hyperscale data center in South Korea's Sejong. Nvidia plans to invest $1 billion in Naver, while Brookfield signed a non-binding term sheet to provide up to $9 billion in funding, with Naver financing the balance, the release said.

The long-term partnership was disclosed during South Korean President Lee Jae Myung's visit to San Francisco, where South Korean firms Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) also disclosed partnerships with US firms.

Shares of Naver added over 7% in recent trade.

Related Articles

Asia

Market Chatter: India's State Oil Firms Buy Additional Oil from Spot Market Amid Potential Middle East Supply Delays

Indian Oil (NSE:IOC, BOM:530965), Bharat Petroleum (NSE:BPCL, BOM:500547) and Hindustan Petroleum (NSE:HINDPETRO, BOM:500104) have made crude oil purchases from the spot market, Bloomberg reported Friday, citing people familiar with the matter.The move comes as a buffer for potential delays in shipments from Saudi Arabia and Iraq, according to the report.The Indian state-owned oil companies have been asked to tap into their stored supplies if needed to ensure undisrupted refinery operations in August and avoid fuel, especially cooking gas, shortages, the people reportedly told Bloomberg, asking to remain unnamed.Oil Minister Hardeep Singh Puri, on Thursday, had discussions on backup strategies with state-run refiners, Bloomberg said.Indian Oil, Bharat Petroleum and Hindustan Petroleum did not immediately respond to' requests for a comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

BOM:500104BOM:500547BOM:530965NSE:BPCLNSE:HINDPETRONSE:IOC
Asia

Japan Hotel REIT's Revenue Nearly Flat in June

Japan Hotel REIT Investment (TYO:8985) said its 29 hotels generated total revenue of 6.05 billion yen in June, down 0.6% from a year earlier.Hotel occupancy reached 81.2% in June, up 0.1% year over year, according to a Tokyo bourse filing on Friday.The average daily rate gained 1.6% to 18,509 yen, while revenue per available room rose 1.7% to 15,023 yen.

TYO:8985
Asia

Daiwa Office Investment Requests Rating Withdrawal

Daiwa Office Investment Corporation's (TYO:8976) has requested Rating and Investment Information Inc. withdraw its assigned AA- issuer rating following a cost-benefit review, according to a Tokyo bourse filing Friday.The AA long-term issuer rating by Japan Credit Rating Agency with a stable outlook is expected to remain effective.

TYO:8976