US chip giant Nvidia wants to establish a facility in Vietnam to grow its semiconductor sector. Jensen Huang, the chairman and CEO of the Silicon Valley chip titan, is visiting the Southeast Asian country to encourage investment in its expanding semiconductor industry.

 

During a meeting with Vietnam's Prime Minister Pham Minh Chinh, Huang said Nvidia wants to set up a base in the country, according to a report published late Sunday on the government's official website. The report said Huang rated Vietnam's potential in the IT sector highly, and said Nvidia had invested around $250 million in the country, as per economic times. 

 

Several chip titans have established or extended their operations in Vietnam.Amkor, a South Korean business, constructed a new $1.6 billion packaging factory in October, while Hana Micron opened a $600 million packaging factory a month earlier.

 

During a September visit to Hanoi, US President Joe Biden pledged to assist the communist country in developing its skills and expanding output.Global supply chain shocks and concerns about the United States' reliance on China for vital resources are spurring investment in Vietnam's expanding semiconductor industry. 

 

Vietnam has about 6,000 semiconductor engineers, but it needs thousands more. It intends to raise the figure to 50,000 by 2030.

 

Nvidia Corporation is a worldwide technology firm based in Santa Clara, California that was founded in Delaware. It is a software and fabless firm that creates graphics processing units (GPUs), application programming interfaces (APIs) for data science and high-performance computing, and system on a chip (SoC) units for the mobile computing and automotive markets. Nvidia is the market leader in artificial intelligence hardware and software.