Vietnam's FPT to invest $200 million in AI factory using Nvidia chips


FILE PHOTO: The FPT Headquarters is pictured in Hanoi, Vietnam, July 15, 2023. REUTERS/Thinh Nguyen/File Photo

HANOI (Reuters) - Vietnam's top tech firm FPT plans to build a $200 million artificial intelligence (AI) factory using Nvidia's graphics chips and software, the two firms said on Tuesday.

FPT plans to use Nvidia's support to boost AI research in Vietnam with the aim of developing AI applications and solutions at the planned data centre factory, including for generative AI and autonomous driving, the firms said in a joint statement.

"According to the plan, FPT will establish factories in Vietnam and other potential markets including Japan and South Korea," FPT Chairman Truong Gia Binh told reporters.

"FPT is working to achieve its vision to turn Vietnam into an AI hub through collaboration with Nvidia in technology, business development and training," he added.

The two firms also signed a "comprehensive strategic partnership".

Nvidia's chief executive Jensen Huang had said last December that the company wanted to expand its partnerships with Vietnam's top tech firms and support the country in training talent for developing AI and digital infrastructure.

"We are working with many different operating units within FPT ... we have agreements and strategies for each one of those," Keith Strier, Vice President of Worldwide AI Initiatives at Nvidia, said at an event in Hanoi marking the deal.

The U.S. chipmaker has invested over $250 million in Vietnam. It was not immediately clear whether the new partnership would increase its investment in the country.

FPT is the most valuable technology company on Vietnam's Ho Chi Minh City bourse, with a market capitalization of $5.5 billion. It offers a variety of AI, cloud and big data services, and last year its total revenues exceeded $2 billion.

($1 = 25,450 dong)

(Reporting by Phuong Nguyen; Editing by John Mair)

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Tech News

Study: Over 300 million children a year face sexual abuse online
Camera watching you drive? Monitoring tech grows as regulators battle distracted driving
Microsoft Word just fixed its biggest copy-paste headache of all time
Online fraud is now growing faster than online retail, analysis shows
Microsoft expands Copilot AI assistant with project manager skills
Zimbabwe approves licensing of Musk's Starlink internet service
Tesla shareholders advised to reject Musk's $56 billion pay
Preview: Photorealistic ‘Empire of Ants’ turns a classic sci-fi novel into a real-time strategy game
Elon Musk plans xAI supercomputer, The Information reports
Teens are now gaming more than they’re watching TV

Others Also Read