en.Wedoany.com Reported - Naver Corp. Chairman Lee Hae-jin and CEO Choi Soo-yeon, along with other top executives, will visit the Toronto headquarters of global alternative asset manager Brookfield this week. The move is interpreted by the IT industry as a sign that Naver may be planning a large-scale investment to build AI infrastructure covering data centers, power, and graphics processing units (GPUs).
According to sources from the IT and investment sectors, the Naver management delegation includes founder and Chairman Lee Hae-jin, CEO Choi Soo-yeon, and CFO Kim Hee-chul. The presence of the CFO, who oversees fundraising and investment strategy, suggests that the trip is not merely a routine business exchange but preparation for large-scale investment negotiations. Naver responded to inquiries by saying, "There is nothing we can confirm."
The visit comes against the backdrop of Brookfield's launch of a global AI infrastructure investment project in November last year, in partnership with Nvidia and the Kuwait Investment Authority (KIA). The project has a total investment target of $100 billion, with its core fund, the Brookfield AI Infrastructure Fund (BAIIF), aiming to raise $10 billion in equity. At its inception, the fund secured $5 billion in capital commitments from Brookfield, Nvidia, and KIA. Its investment scope extends beyond GPUs to cover the entire AI value chain, including power, land, data centers, and computing resources.
This investment direction aligns with Naver's ongoing plan for a gigawatt (GW)-scale AI factory. Building a large-scale AI factory requires not only purchasing GPUs but also massive funding for securing land, connecting to power grids, cooling facilities, and data center construction. If Naver provides cloud and hyperscale AI operational technology, while Brookfield offers capital and expertise in energy and data center development, the two parties could design various cooperation structures, such as joint ventures, project financing, or co-investment in infrastructure assets.
Brookfield has previously invested billions of dollars in AI data centers and power infrastructure in France, Sweden, and other locations. As such, it is not only a potential partner for Naver in building AI factories in South Korea but could also help Naver expand its global footprint. However, it remains uncertain whether this visit will lead to an actual investment contract or enter specific negotiations.
