Vietnam's leading tech firm, FPT, announced plans on Tuesday to construct a $200 million artificial intelligence (AI) factory in collaboration with Nvidia, utilizing the company's graphics chips and software. The joint statement from FPT and Nvidia revealed that the Vietnamese firm intends to leverage Nvidia's assistance to enhance AI research in Vietnam. Their primary objective is to develop AI applications and solutions at the upcoming data center factory, specifically targeting generative AI and autonomous driving. "FPT's vision is to establish factories not only in Vietnam but also in potential markets like Japan and South Korea, " stated FPT Chairman Truong Gia Binh during a press conference. He further emphasized that FPT aims to transform Vietnam into an AI hub through its collaboration with Nvidia, focusing on technology, business development, and training. The partnership between the two companies extends beyond their shared AI ambitions, as they have also signed a "comprehensive strategic partnership" agreement. Nvidia's CEO, Jensen Huang, expressed the company's willingness in December of last year to expand partnerships with Vietnam's top tech firms. Nvidia aims to support the country in talent development for AI and digital infrastructure. During an event in Hanoi commemorating the deal, Keith Strier, Vice President of Worldwide AI Initiatives at Nvidia, stated, "We are working with many different operating units within FPT . . .

we have agreements and strategies for each one of those. " Nvidia has already invested over $250 million in Vietnam. However, it remains unclear whether the newly formed partnership will lead to additional investments in the country. With a market capitalization of $5. 5 billion, FPT is Vietnam's most valuable technology company listed on the Ho Chi Minh City bourse. The firm provides a range of AI, cloud, and big data services, having generated total revenues exceeding $2 billion last year. (Reporting by Phuong Nguyen; Editing by John Mair)