Naver Founder Lee Hae-jin Meets Brookfield CEO Bruce Flatt for AI Factory Project
Executives discuss advancing a 1 gigawatt AI factory project with Brookfield investing up to $9 billion in the first phase.
Quick Look
Naver founder Lee Hae-jin met Brookfield CEO Bruce Flatt in Seongnam to discuss advancing a 1 gigawatt AI factory project, with Brookfield committing up to $9 billion for the initial 200-megawatt phase.
AI-generated summary
Why It Matters
Naver and Brookfield are advancing a project to build a 1 gigawatt capacity artificial intelligence factory.
SEOUL, Sept. 4 (Yonhap) -- Lee Hae-jin, the founder and chairman of Naver Corp., has met with Bruce Flatt, the chief executive officer (CEO) of Brookfield Corp., a Canadian asset manager, to discuss ways to advance a project to build a 1 gigawatt capacity artificial intelligence (AI) factory, the South Korean IT company said Friday.
The two executives met at Naver's headquarters in Seongnam, south of Seoul, the previous day for follow-up discussions on the project unveiled last month, according to the Korean company.
Lee and Flatt expressed appreciation to each other and vowed to deepen their ties regarding Naver's efforts to expand AI-related infrastructure, Naver said.
Under Naver's 1 GW AI factory project, Brookfield agreed to invest up to US$9 billion in the first phase, which will have a capacity of 200 megawatts, through a special purpose entity.
U.S. chip giant Nvidia Corp. is also participating in the project through an agreement to acquire common shares in Naver.
Open Questions
- When will construction on the AI factory begin?
- What is the timeline for subsequent phases of the project?
