Vietnam’s FPT to set up $200 mn AI factory using Nvidia chips

FPT AI factory: Vietnam's leading technology firm, FPT, has announced plans to establish a $200 million artificial intelligence (AI) factory in collaboration with Nvidia, using Nvidia's graphics chips and software, the companies disclosed on Tuesday.

The joint statement outlined FPT's intention to use Nvidia's expertise to advance AI research in Vietnam, particularly focusing on the development of AI applications and solutions at the proposed data centre factory. The efforts encompass areas such as generative AI and autonomous driving.

Chairman Truong Gia Binh underlined FPT's vision to position Vietnam as an AI hub through strategic collaboration with Nvidia, spanning technology, business development, and talent training initiatives.

The partnership extends beyond the establishment of the AI factory, as the two companies have also formalised a comprehensive strategic partnership agreement. Nvidia's CEO Jensen Huang expressed the company's commitment to deepening partnerships with Vietnam's leading tech firms and supporting the nation in talent development for AI and digital infrastructure.

Keith Strier, Vice President of Worldwide AI Initiatives at Nvidia, highlighted the multi-faceted collaboration with FPT, underlining tailored strategies for various operational units within the company.

Nvidia has previously invested over $250 million in Vietnam, and while the extent of the new partnership's financial implications remains unclear, it signals a continued commitment to the country's burgeoning tech ecosystem.

FPT holds the distinction of being the most valuable technology company listed on Vietnam's Ho Chi Minh City bourse, boasting a market capitalisation of $5.5 billion. The company offers a diverse range of AI, cloud, and big data services, with total revenues surpassing $2 billion last year.

(With Reuters inputs)