Brookfield Asset Management will invest up to $9 billion to finance artificial intelligence data centers for South Korean internet company Naver Corp. The agreement is part of a broader project involving Nvidia, which plans a subsequent $1 billion equity investment in Naver.
Brookfield will establish a special-purpose vehicle, tentatively named Asset Co., to fund and own the computing infrastructure, including GPUs and data centers. Naver subsidiary Naver Cloud will operate the facilities and pay Brookfield usage fees, reducing Naver’s initial capital expenditure.
The financing enables a three-way collaboration to build a large-scale AI factory. Nvidia will provide technical support as the project aims to significantly expand Naver’s computing capacity in the coming years.