Vietnam’s FPT Seals 67 Million Chip Orders, Units Sights on AI and Training Ventures

by Victor Dey

Revealed: September 14, 2023 at 3:43 am Up to date: September 14, 2023 at 4:08 am

by Victor Dey

Edited and fact-checked:

In Transient

FPT not too long ago introduced it has secured orders for a staggering 67 million chips, scheduled for supply by means of 2025.

Vietnam’s distinguished tech conglomerate FPT, not too long ago introduced it has secured orders for a staggering 67 million chips, scheduled for supply by means of 2025. These developments align with FPT’s strategic ambitions to broaden 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 shoppers in Taiwan, South Korea, and Japan, with a main give attention to the medical gadgets business 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}, aimed toward advancing collaboration within the realm of synthetic intelligence (AI) applied sciences and different crucial 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 very important areas corresponding to cloud computing, semiconductors, and AI.

“We’re intensifying our collaboration within the area of crucial 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 reasonably to determine a “secure basis” inside the area.

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

Standard business 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 progress but in addition opens the door to the potential of establishing the primary chip manufacturing facility in Vietnam.

Past its important presence within the semiconductor sector, FPT stated will probably 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 distinguished Vietnamese firms to discover AI functions throughout various sectors, together with cloud storage and healthcare.

Chairman Truong Gia Binh, whose educational background contains arithmetic coaching at Moscow universities, envisions substantial progress potential for Vietnam within the subject of AI.

The corporate’s dedication to training is obvious by means of its scholar outreach packages. These packages purpose to satisfy the rising demand for expert chip engineering professionals in Vietnam by probably rising the workforce tenfold over the subsequent 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 right away U.S. itemizing for FPT.

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

FPT’s Path to Development

Headquartered in Vietnam, FPT’s progress 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 business management, encompassing a dedication to nurturing expertise by means of training. As FPT continues to evolve and consolidate its world presence, it serves as a testomony to Vietnam’s technological prowess and its capability to grab alternatives within the ever-evolving digital panorama.

Tech Editor at Metaverse Publish | Information Scientist / Analyst | Speaker & Media Mentor

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Victor Dey

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Tech Editor at Metaverse Publish | Information Scientist / Analyst | Speaker & Media Mentor