According to a regulatory filing submitted on Friday by South Korean internet portal giant Naver, NVIDIA (NVDA) plans to complete a $1 billion investment in Naver next Friday.

This move will make the American chip giant Naver's third-largest shareholder.

The filing shows that this capital increase comes as Naver has already secured at least $9 billion in computing infrastructure funding.

Naver will determine the number of common shares that NVIDIA (NVDA) will subscribe to through a rights offering next Tuesday.

Currently, South Korea's National Pension Fund is Naver's largest shareholder with a 9.49% stake, while global asset management firm BlackRock ranks second with a 7.31% stake.

This investment is part of the strategic partnership announced by Naver and NVIDIA (NVDA) in July, with the two parties aiming to jointly build a large-scale global artificial intelligence (AI) factory.