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Hello reader,
Which is the bigger number: US$3.3 trillion or US$429 billion?
It’s not a trick question. These figures stand for the market capitalization of semiconductor giant Nvidia (NVDA, NDAQ) and the gross domestic product of Vietnam, respectively.
Perhaps, this indicates why the firm’s CEO, Jensen Huang, gets treated like a rockstar wherever he goes, and not just because he wears a leather jacket.
There aren’t many company leaders who would be treated to beer on the streets of Hanoi by a sitting Vietnamese prime minister, but then again there aren’t many companies as coveted by nation-states as Nvidia.
In a major investment coup for the country, the firm is set to build AI R&D and data centers in Vietnam. In the past, tech multinationals only saw Vietnam as a place to set up factories. But this deal indicates that the country is on the way to becoming a much more important hub for innovation, perhaps at the expense of regional rivals like Indonesia.
Read on for the full story.
On another note, this will be the last edition of the Opening Bell this year. The next one will be out on January 13, 2025. We wish you a happy and fulfilling holiday season!
— Peter
THE BIG STORY
Image credit: Timmy Loen
Nvidia crowns Vietnam as Indonesia’s tech investment rival
The AI giant chose Vietnam for a key investment, perhaps signaling a sea change for big tech investment in SEA.
3 Trends to keep an eye on
Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.
2 Eye-popping facts
The one you didn’t see coming
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