South Korea’s internet portal operator Naver said NVIDIA (NVDA.O) will acquire a US$1 billion stake in the company.

Sputnik reported Dangote has secured $2.5 bln in financing to expand its Lekki refinery, aiming to raise daily crude processing capacity to 1.4 mln bpd by 2028 from about 650,000 bpd currently.

Nomura initiated coverage of ChangXin Memory on its IPO day with a buy rating and a PT of 116 yuan. The bank said global memory-chip supply is unlikely to ease as quickly as consensus expects, which should accelerate ChangXin’s market-share gains. Nomura said capacity expansion, process upgrades and rising ASPs will drive rapid revenue and net income attributable to parent-company shareholders. The 116 yuan PT implies roughly 12.4x upside to the 8.66 yuan issue price; based on the pre-overallotment share count of 66.881 bln shares, that values ChangXin at about 7.77 trillion yuan.