NHN Reports 30% GPU Business Margin, Plans to Add 1,700 B300 GPUs

What happened

NHN CFO Ahn Hyun-sik said on the company's third-quarter earnings call on Nov. 10 that its AI GPU business is generating a profit margin close to 30% based on direct costs (not an operating profit margin). NHN plans to deploy 1,700 Nvidia B300 GPUs at data centers in the Seoul metropolitan area, with new GPU infrastructure having a power intake capacity of approximately 6 megawatts (MW); full-scale operations are expected to begin between late December and early January, and the company plans to start providing services at the facilities in phases starting in January next year and recognize revenue accordingly, with contract negotiations with customers nearing completion. NHN Cloud will secure additional data center capacity in the Seoul metropolitan area through leased facilities including Gasan in Seoul and Gajwa in Incheon, and has announced plans to operate a total of 100 MW of data center capacity by the end of 2027, including the additional 30 MW plan announced in August (leasing a 20 MW facility at an AI data center in Pohang and building its own 10 MW data center in the Gwangju Research and Development Special Zone), plus separately leasing the 26 MW Jangseong Pine AI Data Center under development in Jangseong County, South Jeolla Province. NHN Cloud also plans to participate in a large-scale government GPU project expected to launch next year, which it estimates at around 4 trillion won and involving systems based on Vera Rubin or more advanced architectures. NHN reported consolidated revenue of 758.3 billion won and operating profit of 58.8 billion won for the third quarter of 2026, up 21% and 112%, respectively, from a year earlier, both record quarterly highs; technology revenue rose 53% to 171.7 billion won, payment revenue increased 21% to 397.6 billion won, and gaming revenue grew 10% to 131 billion won.

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Source: The Elec · 11/9/2026 · View original source