In early trading on the 9th, Naver is plunging 9%. Brokerages have successively raised their target prices, saying Naver has begun a transformation into an artificial intelligence (AI) data center corporations, but the stock is sharply falling.
As of 10 a.m. that day, Naver was trading at 254,000 won on the securities market, down 25,000 won (8.96%) from the previous session.
That day, the securities industry collectively set higher target prices. They cited expectations for a shift toward an AI factory. ▲ Hana, Shinyoung, and Daol Investment & Securities 400,000 won ▲ DS Securities 450,000 won ▲ Kyobo Securities 390,000 won ▲ Samsung Securities 300,000 won were suggested.
Earlier, on the 8th, Naver disclosed that it would pursue a joint project with Nvidia to build a global AI factory. The company, pledging an "Asia version of CoreWeave," plans to secure data centers and expand business-to-business (B2B) transactions to meet demand for AI data centers not only in Korea but also in Asia, the Middle East, and Europe. In the long term, it aims to own 1 GW of data centers.
Lee Jun-ho, a Hana Securities researcher, said, "The most important point in this announcement is that Naver has secured growth, which had been the cause of its stock underperformance," adding, "With the entry into the Neo Cloud business through a partnership with Nvidia making domestic and global sales expectations possible, the corporations' constitution is expected to change completely."