Nvidia, a leading player in the artificial intelligence (AI) chip market, has announced plans to deepen its involvement in Vietnam, including establishing a local base, following a visit by the company’s CEO, Jensen Huang.
Huang noted that Vietnam is not only a partner but also hosts millions of Nvidia’s customers. The company has already invested $250 million in the country. He further mentioned Nvidia’s commitment to supporting Vietnam in AI training and infrastructure development.
At the same event, Nguyen Chi Dzung, Vietnam’s Minister of Planning and Investment, emphasized the country’s recent initiatives to create incentives and programs aimed at attracting investment in the AI and semiconductor sectors.
The Vietnamese government also revealed Nvidia’s intention to establish a center in Vietnam. This center aims to draw global talent to contribute to the development of the country’s semiconductor ecosystem and its digital transformation. This announcement follows a few months after U.S. President Joe Biden’s historic visit to Vietnam, which resulted in several billion-dollar business deals and partnerships. These agreements are set to advance industries such as AI, semiconductors, and cloud computing.
The meeting was attended by leaders from major companies in the AI development sector, including representatives from Nvidia, Google, Intel, Boeing, Amkor, and Microsoft.
As a central figure in the U.S.’s AI manufacturing and development sector, Nvidia has been impacted by U.S. sanctions on certain foreign markets in the semiconductor chip industry. Despite these challenges, Nvidia reported a record-breaking revenue of $18 billion for the third quarter, attributing much of this success to the burgeoning field of generative AI.
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