U.S. chipmaker Qualcomm has announced the acquisition of MovianAI Artificial Intelligence (AI) Application and Research JSC (MovianAI), which is part of Vietnamese conglomerate Vingroup.
MovianAI is a part of Vingroup’s VinAI Artificial Intelligence Research and Application Joint Stock Company. Vingroup held a 65% stake in the firm before the deal.
The transaction value of the deal remains undisclosed.
The latest deal comes a few months after Nvidia acquired VinBrain, an AI subsidiary of Vingroup, for an undisclosed price. VinBrain is focused on using AI in the medical field.
The acquisition will strengthen Qualcomm’s generative AI research and development capabilities and expedite the creation of advanced AI solutions for products like smartphones, PCs, software-defined vehicles and more.
Led by Dr. Hung Bui, formerly of Google DeepMind, VinAI focuses on generative AI, machine learning, computer vision, and natural language processing. Combining VinAI’s advanced generative AI research and development (R&D) capabilities with Qualcomm’s decades of extensive R&D will expand its ability to drive extraordinary inventions.
“This acquisition underscores our commitment to dedicating the necessary resources to R&D that makes us the driving force behind the next wave of AI innovation,” said Jilei Hou, senior vice president of engineering, Qualcomm Technologies, Inc.
“We are ready to contribute to Qualcomm’s mission of making breakthroughs in fundamental AI research and scale them across industries, including smartphones, PCs, software-defined vehicles, and more,” said Dr. Hung Bui, founder and chief executive officer, VinAI.
Qualcomm has been working closely with the Vietnamese technology ecosystem to create and deliver innovative solutions. Qualcomm’s innovations in the areas of 5G, AI, IoT and automotive have helped to fuel the growth of Vietnam’s information and communication technology industry and assisted the entry of Vietnamese companies into the global marketplace.
Last year, Vietnamese state-owned telecommunications giant Viettel developed Open RAN 5G base station equipment with Qualcomm, looking to hone the technology at home and expand it into other emerging markets.
