NVIDIA, the world’s most expensive chip manufacturing corporation, hopes to establish a hub in Vietnam to attract global talent, thereby contributing to the development of the semiconductor and artificial intelligence ecosystem, promoting startups, designing, developing supercomputers, and producing future software…

NVIDIA – The world’s most expensive chip manufacturer with a market value of nearly 1,200 billion USD

On the afternoon of December 10th, Prime Minister Phạm Minh Chính met with Mr. Jensen Huang, Chairman and CEO of NVIDIA Corporation (USA) – the world’s most valuable chip manufacturer with a market value of nearly 1,200 billion USD.

NVIDIA was founded in 1993 as a company specializing in the production of graphics cards for computers and is now a pioneer in the field of accelerated computing. The corporation has more than 27,000 employees and achieved a revenue of 27 billion USD in the fiscal year 2023.

The advent and development of artificial intelligence are closely linked to the use of advanced chips, such as NVIDIA’s A100, H100, which help to shrink supercomputers by hundreds of times compared to the bulky machines of the past, while being many times more efficient.

Currently, NVIDIA’s GPU processors account for 80% of the market share worldwide, helping NVIDIA maintain a monopoly in this field.

As a result, NVIDIA’s market value has almost tripled in 2023, making it the most expensive chip manufacturer in the world with a market value of nearly 1,200 billion USD, far exceeding its competitors.

The Prime Minister requests NVIDIA support Vietnam in developing the semiconductor industry ecosystem

In September 2023, during a business trip to the United States, Prime Minister Pham Minh Chinh visited NVIDIA’s headquarters and invited Mr. Jensen Huang to visit and work in Vietnam as soon as possible. In response to the Prime Minister’s invitation, less than three months later, the NVIDIA CEO arrived in Vietnam.

At the reception of the NVIDIA Chairman, the Prime Minister expressed great importance to the working visit of the NVIDIA Chairman, showing trust and strong support for Vietnam, contributing to the materialization of high-level agreements during the official visit of President Joe Biden to Vietnam, promoting the Vietnam-US Comprehensive Strategic Partnership and the agreements reached during the Prime Minister’s recent business trip in the United States.

The Prime Minister emphasized that in the Comprehensive Strategic Partnership that was just established, Vietnam and the United States agreed to make science and technology, innovation, a new important pillar in the bilateral relations.

Therefore, it is necessary to focus resources and intellect, giving priority to certain fields that are Vietnam’s focus, especially the semiconductor industry – a field in which Vietnam and the US have signed a cooperation document, facilitating Vietnam’s deeper participation in the global supply chain.

According to the Prime Minister, this is also an area where Vietnam has much potential and advantage, suitable for the qualities of the Vietnamese people. Vietnam currently has about 6,000 engineers in the semiconductor industry, working for companies both domestic and abroad. Vietnam sets a goal to train 50,000 high-quality engineers from now until 2030, with a priority on training semiconductor design engineers.

Additionally, Vietnam has nearly 30,000 students studying in the United States each year, leading among Southeast Asian countries and ranking in the top 5 countries with the most international students in the US. Along with this, there are about 2.2 million Vietnamese living in the United States.

The Prime Minister suggests that NVIDIA establish a strategic and long-term vision in cooperating, accompanying, and supporting Vietnam in building and executing the national semiconductor strategy, and developing the semiconductor industry ecosystem at all three stages: design, manufacturing plant construction, and packaging and testing.

Among these, focus on cooperative investment in infrastructure, construction of educational facilities, research and development centers, design centers, development of semiconductor and artificial intelligence products, big data centers, high-performance computing, and semiconductor engineer training programs in Vietnam.

NVIDIA aims to establish a foothold in Vietnam to attract global talents, develop the semiconductor and artificial intelligence ecosystem.

NVIDIA President Jensen Huang expressed a favorable impression of the country and people of Vietnam during his visits, especially the beautiful scenery, friendly people, and delicious coffee flavor.

He believes that the good relationship between Vietnam and the United States provides a very favorable condition and foundation for cooperation activities, and that semiconductors and artificial intelligence play an important role in promoting the relationship between the two countries.

He highly appreciates the great potential and opportunities as well as the strategy, vision, and clear approach of Vietnam in the field of semiconductors and artificial intelligence, and especially the human resources of Vietnam in this field – which is a significant resource.

According to Mr. Jensen Huang, Vietnam is facing a crucial moment in its development process. If successful in riding the wave of semiconductors and artificial intelligence, Vietnam will succeed in the most important stages and fields of industry and technology.

The Vietnamese are very good at mathematics, Vietnam has good software capabilities and is in a very good position to develop the field of semiconductors, artificial intelligence, the NVIDIA chairman evaluates.

He said NVIDIA has invested about 250 million USD in Vietnam, recognizing Vietnam as an important market.

With the view of Vietnam as his home, Mr. Jensen Huang affirmed that NVIDIA desires to establish a center, a foothold in Vietnam to attract talent from all over the world, thereby contributing to the development of the semiconductor and artificial intelligence ecosystem, promoting startup companies, designing, developing supercomputers, producing software of the future…, contributing to the digital future of Vietnam.

“NVIDIA is very honored to be able to participate in the partnership with Vietnam,” Mr. Jensen Huang emphasized.

The Prime Minister thanks the strong assessments and commitments of the president of the NVIDIA corporation, stating that Vietnam will establish a task force to deploy and promote the agreements and collaborative content between the two sides, led by the Prime Minister himself.

* On December 7, Prime Minister Pham Minh Chinh also met with Mr. John Neffeur, President of the Semiconductor Industry Association (SIA) of the United States, and leaders of leading US semiconductor companies such as Intel, Qualcomm, Ampere, ARM… who visited and worked in Vietnam.

Vietnam has been increasingly attracting major corporations in the semiconductor industry from around the world and especially from the United States such as Intel, Amkor in the packaging and testing segment, Marvell, Qovor, Qualcomm in the design segment, Synopsys, Cadence in providing chip design tools…

Source: www.chinhphu.vn