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Nvidia Corporation aims to set up a new base in Vietnam, which was revealed by the company's chief executive officer, Jensen Huang. He said that they want to build a center office in Vietnam to establish the semiconductor industry in the country as it sees the Vietnamese sector as an important market.
As per Reuters, Nvidia's CEO Huang recently visited Vietnam for the first time and said that the company considers the region as its home. He then confirmed they have plans to set up a base there.
Investments and Development Plans in Vietnam
Nvidia has already spent about $250 million in investment in the country, and now it is set to have talks for partnership agreements that will center on semiconductors. This will be a series of meetings with the leading local tech companies and officials that may begin this week.
It was noted that Vietnam is already home to semiconductor assembling facilities owned by major brands such as Intel. Now, Nvidia is also trying to establish its center here with the goal of expanding into chip designing and chipmaking as well.
At any rate, it was said that the growing trade tensions between China and the United States have created opportunities for chip business in Vietnam. This may be true because, as mentioned, Nvidia has just unveiled its chip development plans for the region.
"The base will be for attracting talent from around the world to contribute to the development of Vietnam's semiconductor ecosystem and digitalization," an official from the Vietnamese government said after Nvidia's CEO Huang's meeting with the country's Prime Minister Pham Minh Chinh.
Ideal Location for Chip Business Growth
CoinMarketCap reported that Vietnam is quickly becoming a key player in the chip business sector. With Intel and now Nvidia aiming to set up their chip base in the territory, Vietnam is rapidly expanding into other areas, such as chip design and manufacturing.
This growth and development cropped up at an important period as the global trade dynamics shifted. This remarkable change presented new opportunities for Vietnam, and it is expected to prosper further in the future as tech companies race to build AI applications for various businesses.
Photo by: Coolcaesar/Wikimedia Commons(CC BY-SA 4.0)
