AI chip developer Nvidia announced its intention to strengthen partnerships and establish a presence in Vietnam following CEO Jensen Huang’s visit.
The company, which has already invested $250 million in Vietnam, envisions closer cooperation with local partners.
NVIDIA CEO Jensen Huang said:
“Vietnam and Nvidia will deepen their relationship with Viettel, FPT, Vingroup and VNG becoming partners seeking to expand their partnership with Nvidia.”
Huang confirmed Nvidia’s commitment to supporting local AI education initiatives and infrastructure development.
Vietnam local AI initiative
At the event, Vietnam’s Minister of Planning and Investment Nguyen Chi Dzung highlighted the Vietnamese government’s recent efforts.
These efforts aim to provide incentives and initiatives to attract investment in the AI and semiconductor industries.
He said:
“Vietnam has great potential for the development of the semiconductor and AI industries, and we are committed to creating favorable conditions for NVIDIA companies.”
In addition, NVIDIA announced that it plans to establish a center in Vietnam to serve as a hub to attract global talent and contribute to Vietnam’s semiconductor ecosystem and digitalization.
This strategic move came in the aftermath of a historic visit. US President Joe Biden Significant business deals totaling billions of dollars have been concluded in Vietnam.
The focus of the deal was to advance the areas of AI, semiconductors, and cloud computing.
At the meeting on this day, major companies in the AI development field, including NVIDIA, Google, Intel, Boeing, Amkor, and Microsoft, gathered.
Nvidia thrives despite challenges
Despite challenges posed by U.S. sanctions on its semiconductor chip business, Nvidia continues to grow as a pivotal player in the U.S. AI manufacturing and development industry.
The company reported record revenue of $18 billion in the third quarter, largely driven by advances in generative AI.