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Games & Commerce

Naver, Kakao shares lag despite solid earnings as AI monetisation delays cut valuation expectations

Brokerages forecast record first-quarter results for Naver and Kakao, but their shares keep falling this year. Analysts say weaker visibility on monetising artificial intelligence is lowering valuation expectations. Securities firms have cut target prices for both companies. For Naver, rising infrastructure and promotion costs and delays to a blockchain-related merger are weighing on sentiment. For Kakao, investors are watching the super-app push and proof of AI agent utility.

Industry

Memory to account for 30 percent of hyperscalers\' capex in 2026 on AI demand

Research firm SemiAnalysis forecasts memory will account for about 30 percent of hyperscalers\' capital expenditure in 2026, up from about 8 percent in 2023 to 2024, and rising further in 2027. It expects DRAM prices to more than double in 2026 and to keep rising in 2027, while LPDDR5 contract prices have already tripled since early 2025. It also projects an HBM supply shortage through 2027 and says memory costs are lifting AI server prices.

Industry

Korea\'s three battery makers set for first-quarter losses

South Korea\'s three battery makers are expected to post losses in the first quarter, as weak conditions in automotive batteries and a transition toward energy storage systems weigh on results. Securities industry estimates point to operating losses at LG Energy Solution, Samsung SDI and SK On. Analysts also flag a domestic production promotion tax credit, expected to take shape in a July tax revision plan, as a potential variable for profitability in the second half.