FPT consortium commences work on $173 million AI centre in southern Vietnam

Vietnam’s top tech firm FPT and its subsidiaries kicked off construction on a $174 million artificial intelligent project in south-central Binh Dinh province, its latest push to tap into AI sector, the company said on Wednesday.

The project, developed by a consortium including FPT City Danang, FPT Investment, and FPT Software, covers an area of 93.24 hectares, FPT said in a statement.

It comprises an AI centre, an education zone and a supporting urban zone, of which the AI centre will focus on research, software production, digital transformation assistance and cybersecurity solution provision, it added.

FPT is the most valuable technology company on Vietnam’s Ho Chi Minh City bourse, with a market capitalisation of $7.7 billion. It offers a variety of AI, cloud and big data services, and last year its total revenues exceeded $2 billion.

In April, FPT announced a plan to build a $200 million AI factory using Nvidia’s graphics chips and software.