Qualcomm acquires Vingroup’s AI subsidiary Movian AI

By Viet Hung April 1, 2025 | 08:49 pm PT

U.S. chipmaker Qualcomm has acquired a 65% stake in Vietnamese artificial intelligence firm Movian AI from conglomerate Vingroup, but the financial terms have not been disclosed.

Qualcomm's logo on display at the Mobile World Congress in Spain in February 2023. Photo by VnExpress/Luu Quy

On Tuesday Vingroup announced it had transferred all its shares in Movian AI, ending its status as its subsidiary.

Qualcomm confirmed the deal the same day, saying Bui Hai Hung, founder and CEO of VinAI, will join Qualcomm as part of the acquisition.

Movian AI was established in late November 2024 as one of two companies Vingroup split its AI subsidiary VinAI into.

It has a charter capital of nearly VND227 billion (US$9 million), with Vingroup holding a 65% stake, and specializes in AI research and development.

Qualcomm, known for its Snapdragon semiconductors, is a major global supplier of smartphone processors that is currently benefiting from the burgeoning demand for AI-powered mobile devices.

In Vietnam, the company established a R&D center in Hanoi in 2020.

Vingroup has several other technology and AI subsidiaries like VinAI, VinMotion, VinBigData, VinRobotics, VinITIS, VinHMS, VinCSS, and VinTech.

In December 2024 the conglomerate, led by billionaire Pham Nhat Vuong, sold another AI company, VinBrain, to U.S. tech giant Nvidia.