- AI chipmaker Nvidia CEO Jensen Huang mentioned the corporate will broaden partnerships in Vietnam.
- Huang was on a visit to Southeast Asia, the place Nvidia inked a partnership in Malaysia.
- Nvidia’s plans sign a shift in high-tech provide chain growth amid US-China tensions.
Chipmaker Nvidia is seeking to Southeast Asia for growth plans, signaling a shift in world superior tech provide chains.
In his journey to Vietnam, Nvidia CEO and president Jensen Huang reportedly declared the Southeast Asian nation the corporate’s second residence.
“This journey will certainly open up future journeys. I’ll return to Vietnam, to Nvidia’s second homeland,” Huang mentioned on Monday, as reported by VietNamNet, a state-affiliated media outlet.
Nvidia has already invested $250 million in Vietnam and is planning to broaden partnerships with the nation’s prime tech corporations.
Huang was in Vietnam as a part of his go to to Southeast Asia, which additionally included stops in Malaysia and Singapore.
He advised reporters at a media roundtable in Malaysia final week that he has “nice confidence that Southeast Asia goes to be an important know-how hub.”
“It is already fairly glorious at packaging and meeting and battery manufacturing. It is already superb at many facets of the know-how provide chain,” he added.
Nvidia is partnering with Malaysia’s YTL Energy Worldwide to develop AI infrastructure, the utility firm introduced Friday.
Nvidia was additionally discussing potential AI funding in Singapore.
Nvidia’s high-profile journey to Southeast Asia got here amid heightened tensions between the US and China associated to points together with rivalry over semiconductor chips.
To de-risk, many world corporations are shifting elements of their provide chain from China — the world’s manufacturing unit ground for the previous 4 many years — to different places. Southeast Asia is ready to learn from this development.
Nvidia is having a blowout yr after OpenAI’s ChatGPT chatbot propelled AI know-how into the mainstream.
The Santa Clara-based chipmaker beat expectations within the third quarter, as income soared 206% to $18.1 billion. The corporate’s inventory has tripled this yr, boosting its market worth past $1 trillion.
Firm cofounder Huang, who owns a 3.5% stake within the firm, has additionally seen his fortune triple to $42.2 billion, per the Bloomberg Billionaires Index.
Nvidia’s share worth closed 1.9% decrease at $466.27 apiece on Monday.
Nvidia didn’t instantly reply to Enterprise Insider’s request for remark despatched outdoors common enterprise hours.
