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Tag: FPT

  • FPT and Nvidia to build $200M AI factory in Vietnam

    FPT and Nvidia to build $200M AI factory in Vietnam

    Vietnam IT giant FPT Corp will spend $200 million building an AI Factory that incorporates technology from U.S. chipmaker Nvidia.

    The factory, which will serve as a sovereign cloud, will not produce hardware but instead will focus on AI research and development using Nvidia’s latest technologies, including Nvidia AI Enterprise software and frameworks and Nvidia H100 Tensor Core Graphic Processing Units, FPT said in an press release Tuesday as its leaders sign the partnership with their Nvidia counterparts in Hanoi.

    The factory will create applications and solutions on generative AI (a type of AI that can create new content and ideas), autonomous driving and green transformation.

    “This empowers FPT to realize the vision of transforming Vietnam into an AI nation and accelerating the adoption of AI applications in Asia, including but not limited to Vietnam, Japan, and Korea.”

    FPT chairman Truong Gia Binh said that the company’s vision is to “turn Vietnam into an AI hub of the world.”

    Nvidia vice president of worldwide AI Initiative Keith Strier said: “By accelerating innovation in healthcare, agriculture, climate, manufacturing, and more, AI has the potential to improve lives and strengthen the economies of every nation.”

    “FPT is working with Nvidia to empower organizations across Vietnam to drive transformation, helping the country become an AI nation,” he added.

    FPT plans to incorporate Nvidia’s training content into university and high school curricula to develop high-tech human resources. The corporation wants to have at least 30,000 students in the program within five years.

    As part of the collaboration, FPT has joined the Nvidia Partner Network as a Service Delivery Partner and aims to become a Global Systems Integrator, leveraging the full potential of Nvidia’s cutting-edge products and technologies to develop bespoke cloud services, hardware, software, and most importantly, generative AI solutions.

    The two companies will develop cloud gamming in Vietnam through Nvidia’s service GeForce Now.

    Strier on Monday had a meeting with the Minister of Planning and Investment, Nguyen Chi Dung, which reinforced the efforts in building and developing Vietnam’s semiconductor and AI ecosystem.

    A source said that Nvidia’s purpose for this visit to Vietnam is to work with parties to establish a research, development, and training center for AI, install supercomputers, and possibly relocate a portion of graphic processing units production for supercomputers to Vietnam.

    Nvidia CEO Jensen Huang in December last year visited Japan, Singapore, Malaysia and Vietnam to look for potential partners. He emphasized that Asia is the new global tech hub and wants to expand his company’s presence here.

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  • ​FPT Telecom gets new chairman

    ​FPT Telecom gets new chairman

    Hoang Nam Tien, chairman of FPT Telecom for the last three years, has been named vice chairman of FPT University.

    He will not join the board of directors of FPT Telecom Joint Stock Company (FPT Telecom) for the 2023-28 term.

    After becoming chairman in March 2020, Tien, 54, led FPT Telecom past the numerous challenges posed by the Covid pandemic.

    In 2020-22 the telecom operator’s revenues increased from VND11.46 trillion ($490 million) to 14.7 trillion and profits from VND 1.6 trillion to VND2.25 trillion.

    It also launched many new products and services such as FPT Camera, Foxpay e-wallet and FPT Play, an OTT service offered directly to viewers via the Internet.

    Tien started working for FPT Group in 1993.

    He has held many leadership positions in the corporation such as chairman of FPT Software Co. Ltd (2012-20), general director of FPT Hoa Lac Hi-Tech Park Development Co. Ltd (2007-12) and general director of FPT Distribution Co. Ltd (2003 – 08).

    Replacing him as FPT Telecom chairman is Hoang Viet Anh.

    FPT Group said the changes are in line with its agenda of rotating senior leaders.

    Anh also joined FPT in 1993 as a programmer when he was still a student.

    He too has held many senior management positions, working as general director of FPT Telecom since early 2018 and currently also holding the position of deputy general director of FPT Corporation and chairman of FPT Digital Transformation Consulting Company.

    Nguyen Hoang Linh replaces hun as FPT Telecom general director.

    Linh has worked for 15 years at FPT Telecom and is currently deputy general director.

  • Vietnam main securities exchange continues to use FPT trading system

    Vietnam main securities exchange continues to use FPT trading system

    The Ho Chi Minh Stock Exchange will continue to use the trading system developed by FPT while waiting for a replacement from South Korea, Ministry of Finance and bourse officials said.

    The system developed by FPT Information System, a subsidiary of the tech giant, in July last year helped cope with the trading load that had become unsustainable for around half a year.

    It increased the capacity of Vietnam’s main exchange from 900,000 transactions a day to five million.

    On November 19 last year the largest ever number of transactions of 1.84 million was recorded, or just a third of what the system could handle, Dang Truong Thach, deputy director of FPT IS, pointed out.

    Deputy Minister of Finance Nguyen Duc Chi said its replacement, KRX, is being developed in South Korea and seen rapid progress.

    “It will be ready within months.”

    It is being developed under a VND600-billion (US$25.69 million) deal signed in 2012 between HoSE and the Korea Exchange.

    It will allow odd-lot trading and a T+0 settlement cycle (meaning investors will receive their shares or money on the day of trade instead of two days later).

    For the last 10 years HoSE has repeatedly been missing deadlines for installing a new system.

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  • FPT, Grab team up to develop 4.0 tech solutions

    FPT, Grab team up to develop 4.0 tech solutions

    Vietnamese tech giant FPT and Singaporean ride-hailing firm Grab will work together on smart city solutions, AI and smart payments. The two companies signed a strategic partnership agreement to this effect Friday. Specifically, they will cooperate on piloting a traffic signal monitoring system in Ho Chi Minh City. FPT will provide the traffic light monitoring software, while Grab will provide data and traffic analysis from its ecosystem. Based on data transferred from GrabCar and GrabBike vehicles, the two sides will jointly develop a real-time traffic monitoring portal to be used in several major cities.

    Grab and FPT also plan to develop electric vehicle charging stations in Vietnam and explore multimodal transport solutions that can integrate FPT’s digital public transport schedule with Grab’s network.

    “We hope the application of 4.0 technology by the partnership will bring new experiences and conveniences to the Vietnamese people. The two sides will share data and solutions to solve traffic challenges in big cities,” said Le Hong Viet, technology director of FPT.

    Jerry Lim, Grab Vietnam director, said that with available traffic data, analysis capacity and experience of public transport in Vietnam and Southeast Asian countries, Grab will work closely with FPT to develop smart city solutions, thereby making commuting easier, more convenient and safer for Vietnamese people.

    FPT has also committed to integrate the GrabPay by Moca e-wallet platform into its e-payment ecosystem in 2019, while Grab will cooperate with its international financial partners to provide suitable financial services to Vietnamese users.

    Grab’s loyalty programme, called GrabRewards, will also be available across FPT’s network. Users will be able to accumulate points by purchasing FPT products.

    Grab and FPT will also develop AI technologies in areas such as facial recognition, authentication and real-time communication in order to increase safety and security for drivers, passengers and business partners.

    FPT is currently the first and only enterprise in Vietnam to own a comprehensive artificial intelligence platform – FPT.AI.

    This platform allows programmers to create interactive language interfaces, such as chatbots, which help with customer engagement; voice recognition used in automatic switchboards; and image recognition used for processing ID documents along with face recognition.

    FPT is the largest information technology service group in Vietnam with its core business focusing on the provision of IT-related services.

    Grab, a Singaporean transport network company, provides ride-hailing services in Singapore, Malaysia, Indonesia, the Philippines, Vietnam, Thailand, Myanmar, and Cambodia. It is Southeast Asia’s first “decacorn”, a startup with a valuation of over $10 billion.

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  • FPT Retail to hold IPO in mid-December

    FPT Retail to hold IPO in mid-December

    FPT Digital Retail is set to launch an IPO on the Ho Chi Minh City Stock Exchange on Friday week.

    Details of the IPO pricing have not been disclosed, but the retail arm of Vietnam’s largest IT company plans to use the proceeds over the next three years to open 100 stores officially licensed by Apple.

    FPT secured the nation’s first licence from Apple in 2012 to set up a store network specialising in such products as the iPhone and Macbook under the brand F.Studio. There are now 10 outlets run by FPT Digital Retail. Apple products make up 40 per cent of the the chain’s offerings, and the retailer plans to increase the network tenfold.

    Meanwhile, a survey has shown that more than a third of Apple products in the Vietnam market are “unauthorized” and do not have a guarantee from the manufacturer.

    While Apple has a representative office in Vietnam, there is yet to be an official Apple Store. Sales of Apple products in the Vietnam are currently valued at $1 billion annually. Apple iPhones accounted for 7 per cent of the total 14 million smartphones sold in Vietnam last year, ranking third after Samsung Electronics (28 per cent) and Oppo (25 per cent), according to IDC Vietnam.

    Vietnam has 15 Apple-authorized stores run by local retailers, including the 10 F.Studio outlets and those of Mobile World Group. This compares with 527 authorised stores in Singapore, 480 in Thailand and 364 in Indonesia.

    FPT Retail general director Nguyen Bach Diep has told an investor roadshow in Ho Chi Minh City that the market listing date will be no later than April 30.

    CEO Nguyen Viet Anh says the company expects total revenues of about US$600 million this year, 10 per cent of this from online sales, while its profit is estimated to be VND293 billion (about US$13 million) by year-end.

    Splitting from FPT’s retail and distribution sector in 2012, FPT Retail is now the second-largest information and communications technology retailer in Vietnam, holding 18 per cent market share after Mobile World Group with 45 per cent.

    FPT Retail’s nationwide store network will reach 480 outlets by the end of this year, up 25 per cent year on year.

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  • Microsoft and FPT develop strategic partnership

    Microsoft and FPT develop strategic partnership

    Microsoft and FPT last week signed an Enterprise Agreement focusing on digital transformations and cloud deployments. The agreement tightens the long-term strategic partnership that has been in place for almost 20 years between the two leading IT corporations.

    Specifically, FPT will be the first and largest business in Việt Nam to put in place Microsoft’s cloud computing for all operations of the corporation, in a bid to optimise operational efficiencies and improve competitiveness. FPT will also promote Microsoft’s advanced cloud services to the corporation’s clients.

    “As two global and local IT corporations, Microsoft and FPT want to continuously strengthen this long-term, sustainable relationship via cooperation in technology. The move to the cloud by Microsoft technology will surely help FPT further develop, complete its mission to adapt technology, and develop the knowledge to enable Việt Nam to reach its potential and partly address socio-economic issues,” stressed Vũ Minh Trí, CEO of Microsoft Việt Nam.

    In the first phase, FPT will adopt Microsoft Office 365 and move its entire system and all data to the cloud, at the same time deploying One Drive for Business and Skype for Business to optimise operating performances. In the next phase, FPT and Microsoft will develop the cloud to digitally transform their clients in Việt Nam.

    Nowadays, most of the world’s large tech companies have adopted cloud computing. However, in Việt Nam the majority of businesses are still reluctant to move their system and data to the cloud, particularly large companies.

    Such a large tech corporation as FPT, as it becomes a pioneer in adopting Microsoft Office 365 advanced cloud services for a large number of users, will contribute to encouraging other businesses to adopt cloud technologies. With the strength of Việt Nam’s leading provider of IT services, FPT and Microsoft will jointly develop the cloud market segment in Việt Nam and other countries.

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  • FPT Vietnam to sell stake

    FPT Vietnam to sell stake

    One of Vietnam’s largest private tech firms, FPT Corporation is planning to sell a large stake in its retail and distribution units, providing an opportunity for regional players to buy into the fast-growing Vietnamese market.

    Funds from the sale will be used to help with mergers and acquisitions (M&A) in the information technology area.

    At a shareholder meeting, the company said it will reduce its holdings in FPT Shop, a mobile device retailer, and FPT Trading, which makes, imports and sells telecommunications and electronic products.

    FPT Shop has reached its target of having 250 outlets by this year, and the distribution arm’s profit margins are steady 46 per cent, the meeting was told. FPT still expects the major part of its revenue to come from retail and distribution, estimated at VND28.58 trillion (US$1.27 billion) – about 63 per cent of turnover.

    “The IT industry has a lot of potentials, and the opportunities are universal,” says deputy-CEO Nguyen The Phuong.

    He says some of the money raised will be used to increase the company’s stake in FPT Telecom.

    FPT chairman Truong Gia Binh last year unveiled his goal to invest US$50 million through M&A every year, in both local and international companies. The targeted markets include the US, Japan, Singapore and Europe. Two years ago, the company acquired RWE IT Slovakia for an undisclosed amount and rebranded it to FPT Slovakia.

    One of the main competitors of FPT Shop, Mobile World, has expressed an interest in buying the retail unit. Another candidate could be Thailand’s Central Group, which bought 49 per cent of Vietnamese electronics retailer Nguyen Kim early last year and reportedly wants to also acquire Pico, another local electronics store.

    FPT Vietnam has retained VietCapital Securities and Japan’s Nomura Securities for advisory services on the sale.

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