NVIDIA to Open Vietnam R&D Center to Bolster AI Development
Rhea-AI Summary
NVIDIA announced the opening of its first Vietnam research and development center, focusing on artificial intelligence development. The R&D center will concentrate on software development, leveraging Vietnam's STEM talent pool to accelerate AI adoption. The facility will serve as a platform for researchers and startups to develop AI applications across healthcare, education, transportation, and finance sectors.
The company is partnering with the Vietnamese government as part of the country's digital transformation strategy. NVIDIA has already established a presence in Vietnam's tech ecosystem over the past eight years, working with over 100 AI startups through its Inception program and 65 universities. The company also began collaborating with FPT Smart Cloud as its first Vietnamese cloud partner last year.
Positive
- Expansion into Vietnam's growing AI market through new R&D center
- Strategic partnership with Vietnamese government for AI development
- Access to Vietnam's STEM talent pool for software development
- Existing relationships with 100+ AI startups and 65 universities in Vietnam
Negative
- None.
News Market Reaction – NVDA
In the trading session that priced this news, NVDA declined 0.06%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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SANTA CLARA, Calif., Dec. 05, 2024 (GLOBE NEWSWIRE) -- NVIDIA announced today it is opening its first Vietnam research and development center, signaling its confidence in the country’s bright artificial intelligence future.
The company is collaborating with the Vietnamese government to establish its new Vietnam Research and Development Center focused on AI. NVIDIA will use the R&D center to focus on software development, capitalizing on the country’s strong talent pool of STEM engineers, and to engage industry leaders, startups, government agencies, universities and students to accelerate the adoption of AI.
“We are delighted to open NVIDIA’s R&D center to accelerate Vietnam’s AI journey,” said Jensen Huang, founder and CEO of NVIDIA. “With our expertise in AI development, we will partner with a vibrant ecosystem of researchers, startups and enterprise organizations to build incredible AI right here in Vietnam.”
The Vietnam R&D Center will develop valuable platforms for NVIDIA and partners to nurture AI innovation. Researchers and startups will be able to use this infrastructure to develop AI applications for key industries such as healthcare, education, transportation and finance.
With the country’s rapid expansion in manufacturing for technology, automotive, electronics and textiles, Vietnam has become one of the world’s fastest-growing economies. Its AI market has also been growing in recent years, backed by technological advancements, government support and greater integration of AI in various industries. Since 2021, Vietnam has promoted AI development as part of its digital transformation strategy with the goal of fostering innovation, building a robust AI ecosystem and positioning the country as a regional leader in R&D.
“The government of Vietnam is focused on innovation as one of the key elements of its development strategy,” said Vietnam Prime Minister Pham Minh Chinh. “With this strategic partnership, the Vietnamese government and NVIDIA are committed to jointly promoting the strong development of AI technology in Vietnam and creating a bright future for the innovation ecosystem and high-tech industry in Southeast Asia.”
NVIDIA has been investing in Vietnam’s technology ecosystem for the last eight years. The company is engaged with more than 100 Vietnamese AI startups as part of its Inception program in addition to 65 universities within the country. Last year, NVIDIA began collaborating with FPT Smart Cloud as its first Vietnamese cloud partner.
About NVIDIA
NVIDIA (NASDAQ: NVDA) is the world leader in accelerated computing.
For further information, contact:
NVIDIA Corporate Communications
press@nvidia.com
Certain statements in this press release including, but not limited to, statements as to: NVIDIA’s collaboration with the Vietnam government to establish its new Vietnam R&D Center focused on AI; NVIDIA using the Vietnam R&D center to focus on software development, capitalizing on the Vietnam’s strong talent pool of STEM engineers, and to engage industry leaders, startups, government agencies, universities and students to accelerate the adoption of AI; NVIDIA partnering with a vibrant ecosystem of researchers, startups and enterprise organizations to build incredible AI in Vietnam; the Vietnam R&D Center developing valuable platforms for NVIDIA and partners to nurture AI innovation; researchers and startups being able to use the Vietnam R&D Center to develop AI applications for key industries such as healthcare, education, transportation and finance; and Vietnam’s AI market growing in recent years, backed by technological advancements, government support and greater integration of AI in various industries are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners' products; design, manufacturing or software defects; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the most recent reports NVIDIA files with the Securities and Exchange Commission, or SEC, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.
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