Naver showed weakness due to the overall adjustment in the domestic stock market, even as it continued to harbor expectations for the expansion of its artificial intelligence (AI) business. Although the company has recently been strengthening its generative AI, cloud, and data center businesses, investors are taking a wait-and-see approach while simultaneously keeping an eye on short-term performance and changes in the market environment.

During the morning session on the 8th, Naver's stock price traded at 243,500 won, down 12,000 won (4.70%) from the previous trading day. During the session, it slipped to as low as 239,000 won at one point, but buying pressure flowed in around the 240,000-won mark, allowing it to partially recover its losses.

[Correction After Surge... Profit-Taking Sell-Orders Emerge] Looking at the recent stock price trend, Naver showed a strong upward trajectory since late May. The stock price, which was at the 199,300-won level on May 27, soared to 283,500 won in early June, recording a rapid surge in a short period. However, as volatility in domestic and foreign stock markets expanded recently, a pattern of profit-taking sell-orders has emerged.

[Potential for Reevaluation as an AI Infrastructure Company] The market is paying close attention to the expansion of Naver's AI business. Naver is stepping up to enhance the competitiveness of its search, advertising, commerce, and cloud businesses based on its hyper-scale AI platform. Recently, it has been pursuing the diversification of its revenue models through the advancement of AI agents and generative search services, as well as the expansion of enterprise AI solutions.

In particular, as the AI era begins in earnest, the competitiveness of data centers and cloud infrastructure is becoming increasingly important. Naver is evaluated to be leading the expansion of the domestic AI ecosystem based on its own data center operational experience and AI model development capabilities.

In the securities industry, there is also a discussion about the possibility of Naver being reevaluated as an AI infrastructure company, moving beyond a platform company, during the growth process of the AI industry. The analysis suggests that if the proportion of AI-based services and enterprise solutions expands from the existing business structure centered on search and advertising, a positive change could appear in its revenue structure as well.

[Key Variables for Second-Half Performance Improvement] However, in the short term, U.S. stock market volatility and changes in the interest rate environment are acting as a burden. The assessment is that the domestic internet platform sector is also being affected as recent global tech stocks come under profit-taking pressure.

The industry expects that the speed of commercializing AI services in the second half and the recovery of the advertising market will act as major variables for Naver's earnings improvement. After recently surging on AI expectations, Naver's stock price has entered a consolidation phase to catch its breath.

Market attention is focused on how quickly Naver can transform into an AI service company, rather than just a simple search platform. In the future, the performance of its AI search and AI agent businesses, along with its cloud growth momentum, are highly likely to become key factors in the reevaluation of its corporate value.

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