Vietnam’s FPT plans to put $200 million into an AI plant that uses Nvidia processors

Vietnam's FPT plans to put $200 million into an AI plant that uses Nvidia processors
Vietnam's FPT plans to put $200 million into an AI plant that uses Nvidia processors

Leading Vietnamese IT company FPT says that it intends to construct a $200 million artificial intelligence (AI) factory using Nvidia’s graphics processors and software.

A leading IT company in Vietnam, FPT (FPT.HM), announced on Tuesday that it is opening new tabs with plans to use Nvidia’s (NVDA.O) graphics processors and software to build a $200 million artificial intelligence (AI) factory.

According to a joint statement from the companies, FPT intends to leverage Nvidia’s assistance to expand AI research in Vietnam with the goal of creating AI applications and solutions at the proposed data center factory, including for generative AI and autonomous driving.

FPT Chairman Truong Gia Binh told reporters, “FPT will establish factories in Vietnam and other potential markets, including Japan and South Korea.”

“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 stated.

Also, a “comprehensive strategic partnership” was inked by the two companies.

In December of last year, Jensen Huang, the CEO of Nvidia, stated that the company aimed to deepen its collaborations with leading Vietnamese technology companies and assist the nation in building human resources for artificial intelligence and digital infrastructure.

The contract was announced at an event in Hanoi by Keith Strier, Vice President of Worldwide AI Initiatives at Nvidia. “We are working with many different operating units within FPT; we have agreements and strategies for each one of those,” Strier said.

Over $250 million has been invested in Vietnam by the American chipmaker. Whether the new collaboration would result in more investment in the nation was not immediately apparent.

With a $5.5 billion market value, FPT is the most valuable technology business listed on the Ho Chi Minh City stock exchange in Vietnam. It makes about $2 billion in sales annually and provides a range of AI, cloud, and big data services.

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