US tech giant Qualcomm acquires GenAI unit of Vietnam’s Vingroup
Summary
[HO CHI MINH CITY] US technology giant Qualcomm on Wednesday (Apr 2) announced its acquisition of MovianAI, a generative artificial intelligence (GenAI) subsidiary of Vietnam’s private conglomerate Vingroup, for an undisclosed amount. These deals come as Vietnam pushes to deepen commercial ties with Washington at a time when its US$123.5 billion trade surplus with the US in 2024 has drawn scrutiny and could trigger reciprocal tariffs by the Trump administration. The latest deal is expected to expedite Qualcomm’s creation of advanced AI solutions for products such as smartphones, PCs, and software-defined vehicles, the US tech firm noted in its statement. In 2023, the company introduced PhoGPT – an open-sourced AI generative model series named after Vietnam’s traditional noodle dish and pre-trained for the Vietnamese language. The duo introduced MirrorSense, an AI-driven automatic mirror adjustment technology that won an innovation award at the Consumer Electronics Show in Las Vegas in January 2024.
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