FPT has confirmed a striking order of 67 million chips, aligning with the company's strategic goal to delve deeper into artificial intelligence (AI) and educational advancements.

FPT, a major player in Vietnam's tech landscape, has made a significant announcement regarding an order of 67 million semiconductor chips destined for delivery through 2025. This move aligns with their ambition to strengthen their position in AI and education sectors. FPT The company has been rapidly increasing its involvement in the semiconductor industry. FPT initially revealed plans to produce 25 million chips by 2025, but Chairman Truong Gia Binh has now indicated a substantial expansion in order size to 67 million chips, intended for clients in Taiwan, South Korea, and Japan, with a strong emphasis on the medical devices industry and various electronics applications.

During a joint press conference on September 11, both the United States and Vietnam announced major business collaborations and partnerships worth billions, all directed at enhancing cooperation in artificial intelligence (AI) technologies and other key sectors.

U.S. President Joe Biden described this partnership as a significant elevation in the bilateral relationship between the two nations. Key areas of focus in this stronger collaboration include cloud computing, semiconductors, and AI.

President Biden emphasized the commitment to deepen collaboration in crucial and emerging technologies, especially in strengthening the semiconductor supply chain's resilience.

Biden also expressed optimism that this economic partnership would serve as a springboard for heightened trade and investment between the two nations, clarifying that the intent was not to 'contain China,' but rather to build a 'stable foundation' in the region.

FPT's Blueprint for Chip Production, AI, and Educational Endeavors

Traditional industry norms typically involve outsourcing chip production processes. However, FPT is taking a unique stance by internally designing its semiconductor chips and outsourcing the manufacturing to South Korea or Taiwan. This strategy not only positions FPT favorably for future expansion but also paves the way for potentially establishing Vietnam's first chip production facility.

In addition to its increasing footprint in the semiconductor arena, FPT is also setting its sights on making strides in the fields of artificial intelligence (AI) and education. Recently, the company entered into a strategic alliance with the esteemed U.S. organization, Landing AI, aimed at bolstering its training capabilities.

Moreover, discussions are reportedly ongoing between FPT and major U.S. tech leader Nvidia, along with other notable Vietnamese firms, as they explore the various applications of AI in sectors like cloud storage and healthcare.

With a background in mathematics from universities in Moscow, FPT Chairman Truong Gia Binh sees immense potential for Vietnam to thrive in the realm of AI.

FPT's dedication to education is reflected in its outreach initiatives targeting students. These efforts are designed to meet the increasing need for skilled professionals in chip engineering within Vietnam, with ambitions to grow the talent pool tenfold in the next decade, aiming for a total of 50,000 engineers.

Partnerships with U.S. Technology Leaders and Future Endeavors

FPT's recent participation in a business summit alongside prominent U.S. tech companies during President Joe Biden's visit to Hanoi highlights the firm's global ambitions. Collaborative projects, such as the alliance with Landing AI and ongoing negotiations with Nvidia, showcase FPT's commitment to harnessing AI technologies across diverse sectors like cloud storage and healthcare.

While the recent Nasdaq listing of VinFast, a Vietnamese electric vehicle manufacturer, captured attention, Chairman Truong Gia Binh remains cautiously optimistic regarding the prospect of FPT pursuing a listing in the U.S. in the near future.

At present, FPT's revenue in the U.S. ranges between $250 million and $300 million annually, with an ambitious plan to escalate this figure to $1 billion by 2030, making a potential U.S. listing a tantalizing possibility, dependent on the company's growth journey and client demands.

With its headquarters in Vietnam, FPT's growth trajectory appears to be propelled by its substantial chip orders and the strategic expansion into the realms of AI and education.

FPT’s Path to Growth

Chairman Truong Gia Binh's vision for FPT extends beyond mere dominance in the industry; it includes a profound commitment to talent development through education. As FPT continues to adapt and strengthen its global standing, it serves as a symbol of Vietnam's technological capabilities and its potential to capitalize on opportunities within the rapidly advancing digital landscape.

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