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Nvidia Bets Big on Vietnam with AI R&D Hub and Strategic Acquisitions
Generated by AI AgentWord on the Street
Thursday, Dec 5, 2024 4:00 pm ET1min read
Nvidia is making significant strides in Southeast Asia, with CEO Jensen Huang announcing the launch of an AI research and development center in Vietnam. This initiative aims to advance the country's AI sector by developing AI infrastructure, nurturing AI talent, and supporting startups. Additionally, Nvidia revealed plans to acquire the AI unit of Vietnam's Vingroup. During this announcement, Nvidia's stock saw a minor rise.
The commitment to Vietnam was underscored in a signing ceremony in Hanoi attended by Vietnam's Minister of Investment, Nguyen Chi Dung, and Prime Minister Pham Minh Chinh. The collaboration involves Vietnam's state-owned Viettel Group. Established in 2022, the partnership marks Viettel as the first Vietnamese company to join forces with Nvidia in this capacity.
Jensen Huang elaborated on Nvidia's vision in Vietnam, emphasizing the development of AI infrastructure and expertise, alongside fostering the growth of AI-focused enterprises. The move signifies Nvidia's deeper integration into the Southeast Asian market, aiming to leverage Vietnam's potential in the tech arena.
Nvidia's acquisition of Vingroup's VinBrain—an AI-focused healthcare startup—further cements its commitment to Vietnam. Although the specifics of the acquisition were not disclosed, Huang hinted at creating a major design hub as part of their future plans.
Minister Nguyen Chi Dung expressed optimism that Nvidia's involvement will bolster Vietnam's high-tech objectives, especially in AI, and contribute to the region's role as a center of innovation. Nvidia's venture aligns with Vietnam's broader strategic goals, including establishing significant data and AI centers by 2030.
Nvidia's strategic moves reflect a broader trend of tech giants investing in Southeast Asia, drawn by the region's growing demand for advanced digital infrastructure. This initiative demonstrates Nvidia's ambition to position itself as a pivotal player in Southeast Asia's tech evolution.
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