Nvidia expands AI development in Vietnam with new agreement

In a significant move to advance artificial intelligence (AI) capabilities, Nvidia Corp . (NASDAQ:NVDA ) has entered into a cooperation agreement with the Vietnamese government. The deal, signed in Hanoi on Thursday, was witnessed by Nvidia CEO Jensen Huang and Vietnamese Prime Minister Pham Minh Chinh. While the specifics of the agreement remain undisclosed, it marks a milestone in the collaboration between the technology giant and the Southeast Asian nation.

Jensen Huang's visit to Hanoi comes after his announcement last year expressing Nvidia's interest in strengthening partnerships with Vietnam's leading tech firms and enhancing the country's AI and digital infrastructure talent pool. In line with these ambitions, Vietnamese technology company FPT disclosed plans in April to establish a $200 million AI factory leveraging Nvidia's graphics chips and software.

The new agreement also includes the establishment of an AI research and development center in Vietnam, further cementing Nvidia's commitment to the region. Investment Minister Nguyen Chi Dung, present at the signing ceremony, emphasized the importance of a nation's data as a natural and national resource, echoing Huang's sentiments on the potential of AI to transform industries and society.

Prior to the Hanoi agreement, Huang met with Thailand's Prime Minister Paetongtarn Shinawatra on Tuesday to discuss bolstering AI infrastructure development in Thailand, highlighting Nvidia's regional engagement.

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Source: Investing.com