During a meeting that will take place on Monday in Hanoi, the American chip giant Nvidia (NVDA.O.) will meet with Vietnamese technology businesses and officials to explore potential cooperation arrangements on semiconductors. Reuters was able to view an invitation letter that was sent to participants.
Since trade tensions between the United States and China have created opportunities for Vietnam in the strategic industry, the country in Southeast Asia, which is home to large chip assembly factories, including Intel’s (INTC.O.) largest factory in the world, is attempting to expand into chip design and possibly chip manufacturing.
When Jensen Huang, president, and chief executive officer of Nvidia, meets with representatives from the Vietnamese government and Vietnamese companies on Monday, they will discuss ways “to boost the semiconductor industry” in Vietnam as well as “Nvidia’s potential partnership with Vietnamese tech firms,” according to the invitation letter to the private event.
It was anticipated that Nvidia would agree on a technology transfer contract with at least one Vietnamese business, according to a person within the industry who was acquainted with the preparations for the meeting.
This individual did not wish to be identified since they were not permitted to state the matter publicly.
In a statement, FPT (FPT.HM), Vingroup (VIC.HM), the parent company of VinFast, an electric car manufacturer, and Viettel, a state-owned firm, stated that they would be present at the meeting with Nvidia on Monday. However, they declined to comment on any potential business transaction.
In response to demands for comment, the Vietnamese Ministry of Investment, which will be hosting the event, did not immediately respond.
A document that the White House published in September revealed that Nvidia, a company that manufactures artificial intelligence chips and graphics processing units, has already partnered with leading technology companies in Vietnam to implement AI in the cloud, automotive, and healthcare industries. This was demonstrated when the United States upgraded its diplomatic relations with Vietnam.
