Naver signs 2 trillion won computing power contract, first AI factory order lands

Naver signed a KRW 2 trillion (about $1.5 billion) computing-power supply contract with a U.S. AI inference company, marking the first customer for its AI factory business. The deal covers next-generation GPU capacity, with first supply in 2027, commercial service expected in the first half of next year, and revenue recognized gradually; the initial order corresponds to 20 MW of the 200 MW capacity Naver targets by 2028, developed with Brookfield and Nvidia, and more than 10 companies are in talks for follow-on contracts. The same day, Naver reported Q3 revenue of KRW 3.47 trillion, up 10.7% year on year and a sixth straight record quarter, while operating profit fell 20.9% to KRW 451.3 billion for a 13% margin; platform revenue was KRW 1.95 trillion (+7.3%), financial platform KRW 487.7 billion (+14.1%), and global business KRW 1.04 trillion (+15.9%). The contract matters as early validation of Naver's AI infrastructure push beyond its search and platform base. Next, watch the pace of converting its signed data-center capacity into contracts, the rollout of its personal AI agent app by year-end, and a planned logistics subsidiary with nearly KRW 1 trillion of investment through 2030.