Vingroup earns $67 mln from selling 65% of Movian AI to Qualcomm

Vingroup earned 1,765 billion ($66.93 million) from transferring a 65% stake at Movian AI to Qualcomm in March this year, according to the Vietnamese private conglomerate's audited financial report for H1/2025.

In early April, Vingroup announced the transaction, but the price was not disclosed.

Movian AI Artificial Intelligence Application and Research JSC (Movian AI) is a former generative AI division of VinAI and a part of the Vingroup ecosystem.

As a leading AI research company in the country, VinAI is renowned for its expertise in generative AI, machine learning, computer vision, and natural language processing.

In its audited financial statement, Vingroup also reported it earned bout VND391 billion ($14.83 million) from divestment at Lighthouse 2.

In April, the group transferred 100% of its ownership at Lighthouse 2 Real Estate Development Company Limited - a real estate brokerage and trading company.

Vingroup JSC (HoSE: VIC) reported a consolidated net profit of VND4,509 billion ($172.2 million) in the first half of 2025, up 120% year-on-year, driven by strong performance in real estate and electric vehicle segments.

Consolidated net revenue surged to VND130.37 trillion ($4.98 billion) in the six-month period, more than doubling from the same period last year, according to its Q2 financial statement.

In Q2, the firm recorded a net profit of VND2.27 trillion ($86.49 million) on revenue of VND46.3 trillion ($1.77 billion), up 31% and 9% year-on-year, respectively.

On the Ho Chi Minh Stock Exchange, VIC shares of Vingroup closed Wednesday morning at VND124,400 ($4.76) apiece.

At the end of November 2024, Vingroup separated VinAI into two legal entities, including Movian AI. This company has a charter capital of nearly VND227 billion ($8.85 million), of which Vingroup holds a 65% stake.

The company's main business is scientific research and technology development in the field of science and technology. Movian AI also operates in the fields of software publishing, computer programming, and technical testing and analysis.

At the end of 2024, Vingroup sold another AI company, VinBrain, to Nvidia. The value of the deal was not disclosed.

After selling Movian AI, Vingroup still has a number of other subsidiaries in the field of AI and technology such as VinAI, VinMotion, VinBigData, VinRobotics, VinITIS, VinHMS, VinCSS, and VinTech.