U.S. semiconductor firm Nvidia has completed its $1 billion investment in Naver (KRX:035420) through a third-party allotment paid-in capital increase, according to a South Korean bourse filing on Friday.

Under the agreement, Naver issued about 6.6 new common shares at a purchase price of 204,500 won per share. Total gross proceeds reached 1.341 trillion won, based on a fixed benchmark exchange rate of 1,341.20 won per U.S. dollar.

Full subscription payment was completed on Friday, with the newly issued shares scheduled to list on the KOSPI Market on Nov. 27.

Proceeds will be used to pursue Naver's new AI Factory business, with annual allocations of 4.6 billion won in 2026, 626.7 billion won in 2027, and 709.9 billion won in 2028 and beyond.

The capital increase was conditional on Naver securing at least $9 billion in computing infrastructure for its AI Factory expansion.