Vietnam's FPT targets U.S. with eye on AI and chip deals

Tech company's growth strategy focuses on new fields and overseas expansion

20231113N FPT chairman

FPT Chairman Truong Gia Binh announced plans to invest $100 million in the U.S. this year. (Photo by Yuji Nitta) 

YUJI NITTA, Nikkei staff writer

HANOI -- Vietnamese information technology company FPT is on an acquisition offensive in the U.S., becoming a major investor in artificial intelligence startup Landing AI as it aims to increase annual revenue in the country to $1 billion by 2030.

"This collaboration will open up a new era for AI development in Vietnam and bring new opportunities for our country's future generations to excel in high-tech fields," FPT Chairman Truong Gia Binh said in a late-October news release announcing the Landing AI investment.

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