FPT chairman Truong Gia Binh: a decade of groundwork led to Nvidia partnership

Over the last year FPT has emerged as one of Nvidia’s key partners, working together to establish AI factories in Vietnam and Japan. Speaking to VnExpress, FPT chairman Truong Gia Binh revisits his meeting with Nvidia CEO Jensen Huang in December 2023, and shares his vision for AI’s future in Vietnam.

-You have more than once used the term ‘bet’ to describe FPT's investment in AI. What were your considerations when making such a decisive commitment?

Saying that FPT is placing a bet on AI reflects our strong confidence in its success. In the past, when we decided to go global, we avoided using the term "bet" because we anticipated potential failure and immense challenges. Now, however, we use it because we believe this decision is the right one.

Why? First, global corporations are investing heavily in AI, with annual spending doubling in some cases and reaching hundreds of billions of dollars. Nvidia, now valued at over $3 trillion, struggles to meet surging global demand for AI chips. While many countries are on the waiting list, Vietnam already has access.

Second, "betting" means approaching it differently. Traditionally, we approached software investments by conducting thorough market research, meticulously analyzing potential buyers, estimating demand and establishing timelines. With AI, that approach would be too slow. Instead, we have reversed the process, prioritizing infrastructure development and studying the market afterward.

This is our gamble, and we firmly believe the future will be driven by AI.

-When do you expect to see results from this move?

At FPT, we typically review overall strategies annually. But for AI, we reassess and refine strategies four times a year. Every FPT unit is tasked with researching AI and reporting on initiatives, the number of AI assistants in development or operation, and the revenue generated. We have never been more determined or decisive in any endeavor.

This approach delivers measurable progress weekly and monthly. A significant achievement is our rapid development of AI infrastructure services. Beyond installing and deploying servers upon arrival, we are building platforms that streamline the process of ‘turning data into profit’ at these AI plants.

-How did FPT convince Nvidia to partner with you and supply their highly sought-after AI chips?

Convincing Nvidia was an achievement, but it is important to note that they also worked hard to convince FPT to form a comprehensive partnership.

At a recent AI conference in Japan, Nvidia recognized FPT as one of their top four priority partners globally. They also announced that FPT is currently their only partner offering both AI factories and consulting services—providing not just infrastructure and products but also end-to-end support to help customers implement and optimize AI.

While many companies only offer hardware or software, we provide both along with the critical expertise needed to address any problems that may arise. We innovate, produce and assist clients in AI transformation. This differentiates us; no one else is doing this.

Nvidia equipment used in FPT's AI factory. Photo by VnExpress/Van Anh

-Less than half a year after your meeting with Huang, FPT and Nvidia announced plans for a $200 million AI factory in April. How did you achieve this?

We have been pursuing technology and investing in AI for over a decade. Every year we discuss which technologies will stand out in the coming year, what might dominate in five years, and which will define the next decade. This long-term vision has enabled us to consistently prepare our workforce and develop products. Today FPT possesses comprehensive technical expertise for research, deployment and model-building independently.

Meanwhile, Nvidia has focused on developing core technologies, producing chips with immense computing power. Their upcoming Blackwell chip, set for release in Q1 2025, will far surpass current models. At this stage Nvidia needs partners like FPT.

First, few companies are willing or able to invest in cutting-edge equipment and build AI teams. Nvidia values companies that have proven themselves and can replicate their success for others. This is the foundation of our collaboration. Moreover, our team has earned Nvidia certification, ensuring mastery of their technology.

Second, Nvidia seeks to expand AI applications across sectors. FPT’s experience spans industries including software, education, telecommunications, retail, pharmaceuticals, and media. Our collaboration extends across nearly all of our domains, and we aim to explore further areas covered by Nvidia.

-What is your outlook on AI implementation in Vietnam?

Huang has described the emergence of AI factories as one of the most significant technological events since the advent of the PC and the Internet. AI factories transform data into intelligence —essentially, into economic value. This is the most critical shift of our time. Simply put, an AI factory converts raw data into financial outcomes.

These factories are designed to serve everyone, offering significant benefits particularly to start-ups. In my view, this is a pivotal turning point.

Humans have already delegated most physical labor to machines; now we are passing intellectual tasks to them. Machines will become personal assistants, while humans focus on leading and managing these virtual assistants.

Vietnam will see thousands of AI specialists, each creating mature AI models that permeate every aspect of life. These AI assistants can simultaneously help millions of people, significantly boosting productivity. Once automated, AI can operate at superhuman speeds, far exceeding human capabilities.

FPT Chairman Truong Gia Binh. Photo by VnExpress/Ngoc Thanh

-What challenges must be addressed to realize this future?

Our AI factory is still in its infancy and will require time to mature. In the short term a major challenge will be the growing demand for skilled workers. Having advanced tools without knowing how to use them can lead to massive losses. Mastering these tools is critical.

A troubling misconception is that AI reduces the need for IT education. The declining number of students pursuing IT studies is alarming. The market should be moving in the opposite direction. As AI becomes capable of coding, we need to learn more—not just IT but IT integrated with AI. Individuals must design their own virtual assistants rather than wait for others to provide them. Without IT and AI skills, job security will be at risk.

We must also shift our perspective: AI does not steal jobs. Those proficient in AI will simply outcompete others. Vietnamese workers should excel at AI to serve both domestic and global markets.

Today AI can simplify tasks in writing, mathematics and screenwriting. But tomorrow, when everyone masters AI, what you create today may lose its relevance.

So how do we prepare? Through learning. Both individuals and businesses must embrace continuous learning.

Vietnamese Party General Secretary To Lam has declared digital transformation and technological development as the nation’s pathway to advancement. The government has prioritized AI in its national development strategy.

On Dec. 10, 2023, his birthday, Prime Minister Pham Minh Chinh met with Nvidia representatives. Acknowledging the occasion and his commitment, Huang pledged to build an "Nvidia Vietnam."

In that meeting I told Huang that Vietnam has one million IT engineers and half a million software developers. He replied saying ‘Vietnam will undoubtedly stand shoulder-to-shoulder with the world’s most advanced nations.’ This is why he chose Vietnam as its ‘second home’ for Nvidia.

Nvidia is highly selective, partnering only with the best. Being chosen demonstrates not just Vietnam’s potential but its proven ability to convince the world of its capabilities.