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Jamille Tran · · 4 min readVingroup to sell stakes in its AI firms: sources
Vingroup, the largest private conglomerate in Vietnam, is in the process of selling its stakes in two AI-focused firms, VinBrain and VinAI.
This is according to three sources with knowledge of the matter, who shared the information with The Business Times on condition of anonymity.
VinFast and VinAI introduced AI-powered driving technology features at CES 2023 in Las Vegas. / Photo credit: VinAI
US chipmaker Nvidia is said to be in discussions with related parties to finalize its acquisition of VinBrain, a Hanoi-based company that specializes in AI-powered healthcare solutions, said one source who is involved in the negotiations.
The Business Times also understands that Nvidia had previously considered acquiring either VinBrain or VinAI.
As of June this year, Vingroup held a 49.74% and 65% equity interest in VinBrain and VinAI, respectively, according to Vingroup’s latest financial statement released in August.
VinBrain is an associate company of Vingroup, which has invested 126.6 billion dong (US$5 million) in the AI firm as of December 2023. VinAI, meanwhile, was established as a research institute of Vingroup. It then became a subsidiary company in 2021 with a capital of 425 billion dong (US$17 million).
Nvidia is now making arrangements for its chief executive, Jensen Huang, to possibly visit Vietnam in November, said two sources involved in the planning of the trip.
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The deal with VinBrain “could be one of the highlights of his trip,” said one source, adding that Huang intends to visit Vietnam more regularly in the coming years.
When contacted by the Business Times, both Vingroup and Nvidia declined to comment.
In 2023, VinBrain joined Nvidia Inception – a global program designed to support AI startups – to improve healthcare and precision medicine in collaboration with the US giant.
Since Huang’s first visit to Vietnam last December, Nvidia has announced deals and partnerships with various companies in the Southeast Asian country.
AI research arm also up for sale
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The US chipmaker Nvidia is reportedly in discussions with involved parties to finalize its acquisition of VinBrain.
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