According to the Vietnamese government, Nvidia wishes to establish a base in Vietnam to develop the country’s semiconductor industry because it considers the Vietnamese market to be important.
During his first visit to the Southeast Asian country, Nvidia CEO Jensen Huang stated that the company considers Vietnam to be its home and confirmed plans to establish a center there.
“The base will be for attracting talent from around the world to contribute to the development of Vietnam’s semiconductor ecosystem and digitalisation,” Huang said after meeting with Prime Minister Pham Minh Chinh, according to a Vietnamese government statement.
Nvidia, which has already invested $250 million in Vietnam, is set to meet with Vietnamese tech companies and authorities on Monday to discuss semiconductor cooperation deals, according to Reuters.
Vietnam, which is home to large chip assembling factories, including Intel’s largest in the world, is attempting to expand into chip designing and possibly chip manufacturing as trade tensions between the US and China create opportunities in the industry.
According to a document published by the White House in September when Washington upgraded diplomatic relations with Vietnam, the chipmaker has already partnered with Vietnam’s leading tech companies to deploy AI in the cloud, automotive, and healthcare industries.