Vietnam’s FPT Seals 67 Million Chip Orders, Sets Sights on AI and Education Ventures

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by Victor Dey

Revealed: September 14, 2023 at 3:43 am Up to date: September 14, 2023 at 3:43 am

by Victor Dey

Edited and fact-checked:

In Temporary

FPT just lately introduced it has secured orders for a staggering 67 million chips, scheduled for supply via 2025.

Vietnam’s outstanding tech conglomerate FPT, just lately introduced it has secured orders for a staggering 67 million chips, scheduled for supply via 2025. These developments align with FPT’s strategic ambitions to increase its affect within the domains of synthetic intelligence (AI) and training.

The corporate has swiftly expanded its presence within the semiconductor sector. FPT initially disclosed orders for 25 million chips, projected for manufacturing till 2025. Nonetheless, Chairman Truong Gia Binh has now revealed an expanded order quantity of 67 million chips. These chips are earmarked for purchasers in Taiwan, South Korea, and Japan, with a major concentrate on the medical gadgets trade and varied electronics functions.

In a joint press convention on September eleventh, the USA and Vietnam unveiled substantial enterprise offers and partnerships valued within the billions of {dollars}, geared toward advancing collaboration within the realm of synthetic intelligence (AI) applied sciences and different vital sectors.

U.S. President Joe Biden characterised this improvement as a proper “improve” of the bilateral relationship between the 2 nations. The focal factors of this enhanced partnership embody important areas akin to cloud computing, semiconductors, and AI.

“We’re intensifying our collaboration within the area of vital and rising applied sciences, with a selected emphasis on fortifying the resilience of the semiconductor provide chain,” President Biden declared.

Biden additional emphasised his anticipation that this financial partnership would function a catalyst for elevated commerce and funding between the 2 international locations. President Biden was fast to make clear that this transfer was not pushed by intentions to “comprise China” however relatively to determine a “steady basis” throughout the area.

FPT’s Technique for Chip Manufacturing, AI and Academic Initiatives

Standard trade practices typically contain outsourcing chip manufacturing. However FPT has adopted a particular strategy. The corporate designs its chips in-house and outsources manufacturing to South Korea or Taiwan. This not solely goals to place FPT for future development but in addition opens the door to the opportunity of establishing the primary chip manufacturing facility in Vietnam.

Past its vital presence within the semiconductor sector, FPT mentioned it is going to be actively venturing into the fields of synthetic intelligence (AI) and training. Just lately, the corporate entered right into a strategic partnership with the esteemed U.S. agency Touchdown AI, with the target of enhancing its coaching capabilities.

Moreover, the corporate is reportedly in discussions with U.S. tech heavyweight Nvidia and different outstanding Vietnamese corporations to discover AI functions throughout various sectors, together with cloud storage and healthcare.

Chairman Truong Gia Binh, whose tutorial background consists of arithmetic coaching at Moscow universities, envisions substantial development potential for Vietnam within the discipline of AI.

The corporate’s dedication to training is obvious via its pupil outreach applications. These applications goal to satisfy the rising demand for expert chip engineering professionals in Vietnam by doubtlessly growing the workforce tenfold over the following decade, with a goal of fifty,000 professionals.

Collaborations with U.S. Tech Giants and Future Prospects

FPT’s latest participation in a enterprise summit alongside main U.S. tech companies throughout U.S. President Joe Biden’s go to to Hanoi underscores the corporate’s world aspirations. Collaboration initiatives, such because the partnership with Touchdown AI and ongoing discussions with Nvidia, spotlight FPT’s dedication to leverage AI applied sciences in cloud storage, healthcare, and varied different sectors.

Whereas the profitable Nasdaq itemizing of Vietnamese electrical automobile producer VinFast in August garnered consideration, Chairman Truong Gia Binh stays cautiously optimistic about a direct U.S. itemizing for FPT.

Presently, the corporate generates annual U.S. revenues starting from $250 million to $300 million, with formidable plans to quintuple these figures to $1 billion by 2030. The potential of a U.S. itemizing looms on the horizon, contingent upon the corporate’s development trajectory and shopper calls for.

FPT’s Path to Progress

Headquartered in Vietnam, FPT’s development is seemingly fueled by its substantial chip orders, coupled with strategic expansions into the domains of AI and training.

Chairman Truong Gia Binh’s imaginative and prescient for FPT extends past trade management, encompassing a dedication to nurturing expertise via training. As FPT continues to evolve and consolidate its world presence, it serves as a testomony to Vietnam’s technological prowess and its means to grab alternatives within the ever-evolving digital panorama.

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