Create Capital Vietnam, Haimaker.ai plan $1 bln AI data center network

Create Capital Vietnam (HoSE: CRC) and Haimaker.ai have unveiled plans to develop a nationwide network of AI-focused data centers in Vietnam, with a total designed capacity of 100 megawatts and investment of about $1 billion.

The two companies said they will establish a joint venture, Vietnam Data Gen (VDG), to implement the project, with participation from several global strategic investors.

The network will be developed in phases aligned with market demand, rather than through a large upfront capital commitment, the partners said.

The first phase will be built at Da Nang Hi-Tech Park in the central city of Danang, with capacity of 10-20 MW and investment of $100-200 million. A second phase would expand capacity to 40-60 MW with funding of $400-600 million, while the final phase would lift total capacity to 100 MW, enabling nationwide and regional-scale operations.

The phased rollout is intended to provide flexibility as demand for AI computing evolves, the companies said. Locations will be selected to ensure reliable power supply, strong international internet connectivity, and proximity to major enterprise clusters.

Each facility will be designed with high-density rack configurations suitable for GPU-intensive workloads. Target customers include government agencies, banks, telecom operators, cloud service providers, and technology firms developing AI applications.

Su Le, founder of Haimaker, said the project aims to build domestic infrastructure that allows data to be stored and processed within Vietnam, supporting large-scale computing needs while safeguarding data sovereignty.

Nguyen Huy Dung, a standing member of the Central Steering Committee for Science, Technology, Innovation and Digital Transformation, said a 100-MW AI data center network would strengthen Vietnam’s domestic computing capacity and support its ambition to become what he described as an “AI-sovereign nation.”

According to Vietnam’s AI Economy report by the National Innovation Center, the Japan International Cooperation Agency and Boston Consulting Group, AI could contribute $120-130 billion to Vietnam’s economic growth by 2040. Of that, $45-55 billion would come from consumer demand for AI-enabled products and services, while $60-75 billion would stem from productivity-driven cost savings.

Vietnam currently has 41 commercial data centers with a combined designed capacity of 221 MW, and several large-scale projects have been announced over the past year.

In August, state-owned telecoms group Viettel broke ground on the An Khanh Data Center, a 60-MW facility with investment capital of VND17.5 trillion ($665.75 million), expected to be the largest in northern Vietnam.

In the same month, the Ministry of Public Security inaugurated National Data Center No.1, with an investment of VND16.8 trillion ($639.12 million), one of the largest and most advanced facilities in Southeast Asia.

In October, Ho Chi Minh City’s Department of Science and Technology said Abu Dhabi-based G42 plans to invest about $2 billion to build a hyperscale AI data center in the city.