Qualcomm acquires Vingroup’s subsidiary Movian AI
American chipmaker Qualcomm has acquired a 65% stake in Vietnamese artificial intelligence firm Movian AI from conglomerate Vingroup.
The financial terms of the deal have not been disclosed.
Vingroup confirmed the transfer of all its shares in Movian AI, ending its status as a subsidiary. Bui Hai Hung, founder and CEO of VinAI, will join Qualcomm as part of the acquisition.
Movian AI was established in late November 2024, following Vingroup's split of its AI subsidiary VinAI. The company specialises in AI research and development and has a charter capital of nearly VND227 billion (approximately US$9 million).
In December 2024, Vingroup also sold another AI company, VinBrain, to US tech giant Nvidia.
This acquisition marks a significant step for Qualcomm in enhancing its AI capabilities and expanding its influence in the Vietnamese and broader Asian markets.
Vingroup chairman climbs Forbes rich list as net worth soars
VOV.VN - Vietnamese billionaire Pham Nhat Vuong, chairman of conglomerate Vingroup, has significantly advanced in Forbes' latest ranking of the world's wealthiest individuals, released on March 10.
