Nvidia acquires AI unit of Vietnamese private giant Vingroup

U.S. chip and AI giant Nvidia has acquired VinBrain, an AI developer under Vietnamese private conglomerate Vingroup.

Jensen Huang, president and CEO of Nvidia, confirmed the move at a meeting with the Vietnamese government on Thursday.

Similarly, on its website, VinBrain confirmed the acquisition, saying that “VinBrain was acquired by Nvidia Corporation of Santa Clara, CA in December 2024 and is no longer an independent corporate entity.”

Other details of the acquisition were unknown.

Jensen Huang highlighted AI developments of Vietnam should be processed, built, and operated in Vietnam to assist citizens and the industry. Nvidia is lucky to cooperate with Vingroup and VinBrain, an “extraordinary” AI start-up in Vietnam.

“With VinBrain, we now have the starting point of a major future design center and today is the first day. I am very happy. Today is the birthday of Nvidia Vietnam,” Huang said.

As of end-September, Vingroup had invested over $126 million in VinBrain and held a 49.7% stake. VinBrain focuses on utilizing AI and Internet of Things (IoT) in healthcare.

Nvidia and the Vietnamese government on Thursday signed a deal to jointly set up an AI R&D center and an AI data center in Vietnam, which are expected to turn the country into a hub of Asia in this field.

The facilities will be foundations to help Nvidia and its Vietnamese partners deploy advanced AI, the government's news portal reported.

At the signing ceremony in Hanoi, Prime Minister Pham Minh Chinh called the deal "an important milestone demonstrating CEO Jensen Huang’s strong determination and commitment to turning Vietnam into Nvidia's second home".