Nvidia Set to Boost Presence in Vietnam, Eyes Global Talent for AI Development
Summary:
Nvidia, a major AI chip manufacturer, plans to increase its presence in Vietnam, including expanding partnerships and establishing a base in the country. CEO Jensen Huang identified Viettel, FPT, Vingroup, and VNG as key partners in Vietnam, where Nvidia has already invested $250 million. In addition to supporting local AI training and infrastructure, the company aims to set up a center to attract global talent for the development of Vietnam's semiconductor ecosystem and digitalization. The move follows the recent historic visit of U.S. President Joe Biden to Vietnam, who signed numerous business contracts aimed at enhancing the AI, semiconductor, and cloud computing sectors. Despite recent sanctions, Nvidia reported a record-breaking $18 billion third-quarter revenue.
In a move marked by expansion, Nvidia, a frontrunner in the production of artificial intelligence (AI) chips, has unveiled its plans to augment alliances in Vietnam and establish a foundation in the nation. Following a visit to the country by Nvidia's CEO, Jensen Huang, it was pointed out that Nvidia already considers Vietnam a key partner with millions of clients resident there, having injected $250 million into the country. Huang stated that Nvidia and Vietnam are set to strengthen ties, noting Viettel, FPT, Vingroup, and VNG as the organisations Nvidia aims to collaborate with further. Additionally, Nvidia has delegated its resources to assist in boosting local AI education and infrastructure.
In his address at the same event, Nguyen Chi Dzung, Vietnam's Minister of Planning and Investment, emphasized the country's recent campaigns to set up attractive investment propositions and plans geared towards drawing investment into AI and semiconductor sectors.
In line with Nvidia's expansion goals, the Vietnamese government shared that Nvidia aspires to establish a hub in the country. This pivot is aimed at engaging global talent to contribute to Vietnam's semiconductor ecosystem's evolution and the nation's digitalization.
References to the recent historic visit of U.S. President Joe Biden to Vietnam were made at this meeting. His visit was marked by the finalization of numerous business contracts and collaborations amounting to billions of dollars, directed towards the enhancement of AI, semiconductor, and cloud computing sectors. Key figures and leaders of prominent AI development firms were present at the meeting, including representation from Nvidia, Google, Intel, Boeing, Amkor, and Microsoft.
Nvidia remains a pivotal player in the U.S.’s AI manufacturing and development sector. The company's growth trajectory has incurred some impact due to U.S. sanctions on specific foreign markets in the semiconductor chip industry. Despite this, Nvidia announced a monumental third-quarter revenue cap of $18 billion, identifying generative AI as the primary driver of this economic milestone.
On a related note, the realms of cryptocurrency and AI have observed significant overlap, with AI markets thriving upon the cryptocurrency paradigm and AI-driven financial analysis gaining momentum.
Published At
12/11/2023 11:54:00 AM
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