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Crypto

U.S. SEC cracks down on AI pre-IPO stock investment frenzy, demands proof of actual stakes

The U.S. Securities and Exchange Commission is moving to verify the substance of pre-IPO stock investment products sold by investment firms, as demand rises for exposure to popular AI startups such as OpenAI and Anthropic. The SEC has told registered investment advisers to prove their special purpose vehicles actually hold the promoted stakes or exposure. The agency has previously pursued similar cases and has warned that tokenisation does not itself guarantee ownership.

Games & Commerce

Naver steps up AI expansion from infrastructure to offline data

Naver is expanding AI infrastructure and consumer services, including an AI factory being developed with Nvidia and broader use of action-oriented AI across search, shopping, Place and payments. It plans to connect offline data through Npay Connect. Naver reported second-quarter revenue of 3.39 trillion won, up 16.2 percent, and operating profit of 520.3 billion won, down 0.2 percent, citing higher costs including AI infrastructure and Npay Connect terminals.

AI & Enterprise

Naver AI factory in talks on Nvidia GPUs, Brookfield funding to cut investment burden

Naver is pursuing a plan to build its AI factory by receiving graphics processing units from Nvidia and securing computing infrastructure through a separate investment structure under discussion with Brookfield Asset Management. Under the structure, an SPV funded through project financing would buy and own GPUs and data centre facilities, while Naver would operate the business and pay for use. The first phase targets 200 MW by 2028, starting at its Gak Sejong data centre.