Tech giant FPT becomes strategic shareholder of leading U.S. AI startup

FPT Corporation, a leading IT firm in Vietnam, on Tuesday officially became a major investor and a strategic partner in Asia-Pacific of Landing AI, the U.S.’s leading computer vision platform and artificial intelligence (AI) software company, vowing to drive the application and education of AI.

The partnership, signed at the FPT Techday 2023 event in Hanoi, is expected to mark important advancement in AI collaboration between Vietnam and the U.S. The value of the deal was not disclosed.

“AI is one of key areas of cooperation between Vietnam and the U.S. Cooperation with the world's leading companies such as Landing AI will open a new era for AI development in Vietnam, contributing to making Vietnam a leading power in AI.” said FPT chairman Truong Gia Binh.

To promote the application of AI, FPT and Landing AI will join hands to carry out projects such as implementing computer vision solutions for automotive, manufacturing, healthcare, and education, among many others, leveraging Landing AI’s strong experience in these areas in the North American market.

Previously, FPT and Landing AI partnered to provide AI solutions for the production line of a global auto interior manufacturer. According to Truong Gia Binh, as a major shareholder, FPT will continue to support Landing AI to introduce and deploy computer vision solutions for customers in Vietnam and Asia-Pacific, taking advantage of FPT's broad customer network and market experience.

In the field of education, Landing AI will collaborate with FPT Education – FPT’s industry targeted education system, to create a comprehensive AI curriculum for students from grade 1 to grade 12. The curriculum will be developed by Dr. Andrew Ng – Landing AI’s founder and CEO and one of Time Magazine’s Top 100 Most Influential People in AI, and his colleagues.

Speaking at the event, Dr. Andrew Ng said he was impressed by the vision and capabilities of FPT in solving complex industry challenges through technology, as well as FPT’s commitment to education. FPT not only demonstrates its expertise but highlights Vietnam’s potential as a growing digital hub, he said.

FPT is a leading global technology and IT services provider headquartered in Vietnam, operating in three core sectors, namely technology, telecommunications, and education. In 2022, the corporation recorded total revenue of $1.87 billion with more than 60,000 employees.

Meanwhile, Landing AI is pioneering the next era of AI in which companies with limited data sets can realize the business and operational value of AI.

In addition to cooperating with Landing AI, the FPT chairman also revealed that the corporation is looking for M&A opportunities to continue expanding its access to and provision of services to "whale" customers in the U.S. market.