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The CEO of Nvidia says the chipmaker is looking to Vietnam as its 'second homeland': report

Dec 12, 2023 - businessinsider.com
Nvidia, the AI chipmaker, is planning to expand its partnerships in Vietnam, signaling a shift in the global advanced tech supply chains. CEO Jensen Huang, during his trip to Southeast Asia, declared Vietnam as the company's second home and expressed confidence in Southeast Asia becoming a significant technology hub. Nvidia has already invested $250 million in Vietnam and is planning to expand partnerships with the country's top tech companies. The company is also partnering with Malaysia's YTL Power International for AI infrastructure development and discussing potential AI investment in Singapore.

The move comes amid heightened US-China tensions over semiconductor chips, prompting global companies to shift parts of their supply chains from China to other locations. Nvidia, which has seen a significant boost this year due to the mainstream adoption of AI technology, beat Q3 expectations with a 206% revenue increase to $18.1 billion. The company's stock has tripled this year, pushing its market value beyond $1 trillion.

Key takeaways:

  • Nvidia CEO Jensen Huang has announced plans to expand partnerships in Vietnam, signaling a shift in global advanced tech supply chains.
  • The company has already invested $250 million in Vietnam and is also partnering with Malaysia's YTL Power International to develop AI infrastructure.
  • Nvidia's expansion into Southeast Asia comes amid heightened US-China tensions, with many global companies shifting parts of their supply chain from China to other locations.
  • Nvidia has had a successful year, with its share price tripling and its market value exceeding $1 trillion, largely due to the success of OpenAI's ChatGPT chatbot.
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