Nvidia Expands Ties with Vietnam

Nvidia, a developer of AI chips, has disclosed its intention to strengthen partnerships and establish a presence in Vietnam, following a visit from CEO Jensen Huang.

The company, already invested with $250 million in Vietnam, envisions deeper collaboration with local partners.

Nvidia CEO, Jensen Huang, said

"Vietnam and Nvidia will deepen our relations, with Viettel, FPT, Vingroup, VNG being the partners Nvidia looks to expand partnership with."

Huang affirmed Nvidia's commitment to supporting local AI training initiatives and infrastructure development.

Vietnam Local AI Initiatives

Addressing the event, Vietnamese Minister of Planning and Investment Nguyen Chi Dzung highlighted recent efforts by the Vietnamese government.

These efforts aim to provide incentives and schemes for attracting investments in AI and semiconductor industries.

He said:

"Vietnam boasts huge potential to develop semiconductor and AI industries, and pledges to create favourable conditions for NVIDIA corporation"

Additionally, it was revealed that Nvidia plans to set up a center in Vietnam, acting as a hub to draw global talent and contribute to the country's semiconductor ecosystem and digitalisation.

This strategic move comes in the aftermath of a historic visit by United States President Joe Biden to Vietnam, where substantial business deals were concluded, totaling billions of dollars.

The focus of these deals was to advance the fields of AI, semiconductors, and cloud computing.

The meeting convened major players in the AI development sector, including Nvidia, Google, Intel, Boeing, Amkor, and Microsoft.

Nvidia Thriving Despite Facing Challenges

Despite facing challenges from U.S. sanctions in the semiconductor chip business, Nvidia continues to thrive as a pivotal player in the U.S. AI manufacturing and development industry.

The company reported record-breaking revenue of $18 billion for the third quarter, attributing its success primarily to advancements in generative AI.