Nvidia, a prominent player in the artificial intelligence (AI) chip development sector, has disclosed plans to broaden its collaborations in Vietnam and establish a significant presence in the country, following a visit by the company's CEO.
Jensen Huang, CEO of Nvidia, emphasized Vietnam's existing partnership with the company, noting the presence of millions of its customers in the country. Nvidia has committed to investing $250 million in Vietnam, with plans to deepen ties and expand collaborations with local partners such as Viettel, FPT, Vingroup, and VNG. Additionally, the company aims to contribute to local AI training initiatives and infrastructure development.
During the same gathering, Vietnam’s Minister of Planning and Investment, Nguyen Chi Trong, highlighted the nation's recent endeavors to introduce incentives and programs aimed at attracting investments in the AI and semiconductor industries.
The Vietnamese government revealed Nvidia's intention to establish a center in the country, serving as a hub to draw global talent and aid in bolstering Vietnam's semiconductor ecosystem and digitalization. This move comes in the wake of U.S. President Joe Biden's significant visit to Vietnam, which resulted in several substantial business agreements and collaborations in AI, semiconductors, and cloud computing between the two nations.
The conference witnessed the participation of key figures from major AI development entities, including Nvidia, Google, Intel, Boeing, Amkor, and Microsoft. Nvidia, a linchpin in the U.S. AI manufacturing landscape, has encountered challenges due to U.S. sanctions affecting its semiconductor chip business in certain international markets. However, the company reported a record third-quarter revenue of $18 billion, citing the prominence of generative AI as a primary contributor to its success.
