Naver Executives in Canada for Trillion-Won AI Factory Investment Talks

Naver's founder Lee Hae-jin and CEO Choi Soo-yeon are reportedly in Canada to hold discussions with global alternative asset manager Brookfield. The meetings, taking place at Brookfield's headquarters in Toronto, are expected to focus on securing substantial investments, potentially in the trillions of Korean won, for Naver's ambitious AI factory project.

Industry insiders suggest that the presence of the company's founder, CEO, and Chief Financial Officer indicates that concrete discussions regarding the investment structure and scale are underway. Naver had previously revealed its plan to build a 1-gigawatt AI factory, referred to as an AI Data Center (AIDC). This facility is envisioned as a massive computing infrastructure integrating Graphics Processing Unit (GPU) servers, data centers, and essential power and cooling systems, all underpinned by Naver's AI and cloud technologies.

The intensifying global competition in artificial intelligence has shifted focus from model development to securing critical infrastructure like data centers and power supply. This trend underscores the growing importance of large-scale funding for such projects. Brookfield, with over $1 trillion in assets under management and a strong track record in real estate and infrastructure investments, including data centers and energy, is seen as a strategic partner.

Analysts speculate that Brookfield could participate through joint ventures or project financing, potentially handling the physical infrastructure aspects such as data centers and power, while Naver contributes its AI and cloud expertise. This collaboration could mirror Naver's previous partnerships, such as its cooperation with Nvidia focusing on GPUs, servers, and AI technology. Naver has declined to comment on the specifics of the ongoing discussions.