Naver Founder and Chairman Lee Hae-jin, left, greets Nvidia CEO Jensen Huang during their meeting at Naver headquarters in Seongnam, south of Seoul, on June 8. Photo courtesy of Naver
Aug. 7 (Asia Today) -- South Korean technology company Naver is using artificial intelligence (AI) to accelerate growth in its core advertising and commerce businesses while developing large-scale AI infrastructure as a new source of revenue.
Naver said Friday that second-quarter consolidated revenue rose 16.2% from a year earlier to 3.39 trillion won ($2.32 billion), driven by growth in advertising, commerce and its global consumer-to-consumer businesses.
Operating profit edged down 0.2% to 520.3 billion won ($356.6 million) as increased spending on AI infrastructure offset stronger revenue growth.
AI has become both a major investment expense and an increasingly important tool for generating revenue across Naver's existing businesses.
