TradingKey – South Korean internet giant Naver received a strategic investment of 1.48 trillion won (approx. $1 billion) from Nvidia, with its stock price surging up to 12% intraday.
On July 27 Asia time, South Korean internet giant Naver (KRX: 035420) due to receiving a strategic investment from AI giant Nvidia ( NVDA )’s strategic investment, saw its stock price surge 12% intraday, once breaking through 230,000 won (totaling $156.84). Currently, Naver’s gains have narrowed to 9.4%, temporarily trading at 227,000 won.
Naver stock price chart, Source: TradingView
It is reported that Nvidia spent 1.48 trillion won (approximately $1 billion) to subscribe to about 7.24 million new shares of Naver through a third-party private placement,…
