Qualcomm has acquired a 65 percent stake in Vietnamese conglomerate Vingroup’s AI subsidiary MovianAI.
Qualcomm said the acquisition will enable it to scale generative AI research and product development
Photo Credit: Reuters
Qualcomm announced the acquisition of MovianAI Artificial Intelligence (AI) Application and Research JSC (MovianAI) on Tuesday. MovianAI is the former generative AI division of VinAI Application and Research JSC (VinAI) and a part of the Vietnamese conglomerate Vingroup. With this move, the San Diego-based tech giant has acquired a 65 percent stake in the company. The financial details of the move were not disclosed by either of the parties involved in the acquisition. Qualcomm said the move will allow it to expedite and scale generative AI research and product development.
In a newsroom post, the chip maker announced the acquisition of the Vietnamese AI firm. MovianAI was established in November 2024 after Vingroup split its AI subsidiary VinAI into two entities. The acquired entity specialised in AI research and development and had a charter capital of nearly $9 million (roughly Rs. 77 crore).
The chip maker said that it has been working closely with the Vietnamese technology ecosystem for more than 20 years to create and develop solutions in the areas of 5G, AI, IoT, and automotive. Alongside the acquisition, Qualcomm also announced that VinAI's founder and CEO, Hung Bui, will also join Qualcomm. He previously worked with Google DeepMind.
With this move, Qualcomm aims to scale its generative AI research and development capabilities. MovianAI will help the tech giant in expediting the creation of AI solutions for products such as smartphones, PCs, software-powered vehicles, and more.
“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. By bringing in high-caliber talent from VinAI, we are strengthening our ability to deliver cutting-edge AI solutions that will benefit a wide range of industries and consumers,” said Jilei Hou, senior vice president of engineering, Qualcomm Technologies.
“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. Our team's expertise in generative AI and machine learning will help accelerate the development of innovative solutions that can transform the way we live and work,” added Bui.
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