According to Reuters, Nvidia CEO Jensen Huang, after signing an agreement with the government to establish two AI centers on December 5th, announced their acquisition of healthcare startup VinBrain, a Vingroup (VIC) subsidiary. This move aims to develop a significant design center in Vietnam. However, the financial details of the deal remain undisclosed.
As of September 30th, Vingroup had invested over $126 million in VinBrain, recognizing it as an associated company with a ownership stake of over 49.7%. Both voting rights and interest ratio stood at 49.74%.
Back in October, Tech in Asia reported that Vingroup was looking to sell its stakes in two AI subsidiaries, VinBrain and VinAI. Three sources familiar with the matter shared this information with The Business Times on the condition of anonymity.
“Nvidia is currently arranging for its CEO, Jensen Huang, to visit Vietnam in November. The deal with VinBrain could be one of the highlights of Jensen Huang’s trip,” said two sources involved in planning the visit.
When contacted by the Business Times, both Vingroup and Nvidia declined to comment.
In November, VinBrain’s website announced that the company had become a part of NVIDIA. VinBrain was acquired by NVIDIA Corporation in Santa Clara, California, USA, in December 2024, according to the statement.
The company’s registered capital at this time increased from 622 billion VND to 627.7 billion VND. There are four foreign shareholders, but they only hold 0.938% of the charter capital.
VinBrain is known for pioneering the development of AI-powered healthcare products and currently stands out with its offerings in the fields of tuberculosis and cancer.
The company has implemented these solutions in over 182 hospitals in Vietnam, the US, India, Australia, and more, aiding medical experts in enhancing their work efficiency.
During his visit to Hanoi a year ago, Jensen Huang expressed Nvidia’s desire to expand partnerships with leading Vietnamese tech companies and support the country in cultivating talent for AI and digital infrastructure development.
In an interview earlier this year, Dr. Truong Quoc Hung, CEO of VinBrain, shared the story of how he “closed the deal” with billionaire Pham Nhat Vuong to establish a healthcare AI startup.
“In the summer of 2018, my mother suffered a stroke, and I returned to Vietnam to take care of her. At the hospital, I witnessed the struggles of many patients. They had to travel from rural areas to the city, queue up from 3 am to get a number, and then wait until noon to see a doctor for just five minutes. Afterward, they would return to their villages, some even with their children in tow. It broke my heart,” Dr. Hung recalled.
The expert felt compelled to use his technological knowledge to serve the people of his nation first and foremost and hoped to bring Vietnamese intellectual value to the world in the future.
“So, I thought about applying AI to healthcare. Some friends introduced me to the Chairman of Vingroup. In our first meeting, as soon as I mentioned saving lives, Mr. Vuong sealed the deal right there and told me to quit my job at Microsoft and join Vingroup the following month.” – Dr. Hung revealed.
Despite his limited knowledge about Vietnam and not knowing Vingroup or Chairman Vuong at the time, Dr. Hung saw a strong national spirit that created a sense of camaraderie between them.
“Ultimately, this was a great opportunity, as Mr. Vuong provided me with a platform to bring valuable contributions to society. So, I took it,” Dr. Hung concluded.
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Mr. Hung believes that if we miss this opportunity in digital assets, we may never get another chance to grow and reach new heights together.
Strolling Through Hanoi’s Old Quarter: An Evening with the Prime Minister and Jensen Huang, Indulging in Local Delicacies
On December 5, Prime Minister Pham Minh Chinh and NVIDIA Corporation’s founder and CEO, Jensen Huang, embarked on a cultural journey through Hanoi’s iconic landmarks. The evening began with a visit to the picturesque Ngoc Son Temple, nestled on Hoan Kiem Lake, offering a serene escape in the heart of the bustling city. They then strolled along the lake’s shores, taking in the tranquil waters and the vibrant atmosphere of Hanoi’s Old Quarter, a melting pot of rich history and vibrant local culture.
The Race to Revolutionize Healthcare: NVIDIA Acquires VinBrain in a Swift Move by Pham Nhat Vuong to Tackle Cancer and Tuberculosis in Vietnam.
As of September 30, Vingroup has invested over 126 million USD in the startup VinBrain, now recognized as an associate company with a holding percentage of over 49.7%. Voting rights and the interest rate stand at 49.74%.
What Did VinBrain Have Before Nvidia?
A notable acquisition was announced on the evening of December 5 in Hanoi. Nvidia, the global tech giant leading the AI race, has acquired VinBrain – Vingroup’s artificial intelligence startup.
