Billion-Dollar AI and Mega Data Center Project Lands in Ho Chi Minh City

Attracting Major and Hyperscale Data Centers

The latest project is the SGI-HCM Campus, a nearly $2 billion AI-powered data center complex, developed by Kinh Bắc Urban Development Corporation in collaboration with Accelerated Infrastructure Capital (AIC) and VietinBank.

This hyperscale data center, located in Tân Phú Trung Industrial Park, Củ Chi, boasts a 200MW IT load capacity and is poised to become a leading regional data center hub, capable of operating 100,000 GPUs in the coming years.

A 100,000 GPU capacity is globally recognized as a hyperscale data center.

According to KGB, the SGI-HCM Campus is being developed on a 10-hectare plot within a high-tech industrial zone designated for digital infrastructure and data services. This strategic location ensures seamless connectivity to power, telecommunications, and logistics infrastructure, meeting international standards for large data centers.

The three partners have agreed to leverage their strengths to execute the initial phase of the data center project, with plans to expand to other locations nationwide in subsequent phases, aiming to establish a national AI data center network.

The total investment is projected at nearly $2 billion, funded through equity and debt, with Kinh Bắc, AIC, and partners contributing to the equity portion.

AIC, headquartered in London and Hong Kong, specializes in data center and digital infrastructure investment and development, with a portfolio exceeding $20 billion.

Lâm Đình Thắng, Director of the Ho Chi Minh City Department of Science and Technology, revealed that the city has received a proposal for another nearly $2 billion hyperscale data center and AI project from the UAE’s G42 Group and Microsoft, alongside Vietnamese partners FPT, VinaCapital, and Việt Thái.

Ho Chi Minh City, G42, and Microsoft have reported the project to the government and established a working group with investors.

Since the beginning of the year, Ho Chi Minh City has seen a surge in large-scale data center projects, driven by innovation and investments ranging from hundreds of millions to billions of dollars.

In April, Viettel Group commenced construction of the Viettel High-Tech Data Center and Research Facility in Tân Phú Trung Industrial Park, Củ Chi. This project boasts a total design capacity of 140MW, with approximately 10,000 server racks, tailored to meet the high-performance computing demands of AI models and applications.

In late June, the Ho Chi Minh City High-Tech Park Management Board approved CMC Technology Group’s investment in the CMC Hyperscale Data Center, valued at over $250 million.

The Hyperscale DC SHTP is not just a conventional data center but is designed as a “heart” for storing, computing, and analyzing vast amounts of data, offering AI-as-a-Service, cloud infrastructure, Big Data, and Cyber Security to millions of users.

Simultaneously, the city is strengthening partnerships with leading technology corporations under Resolution 57. Notable projects in progress include NVIDIA’s AI Lab and SAP Labs’ $150 million investment.

Ho Chi Minh City is home to over 140 science and technology enterprises, ranking second nationally. Notably, the city has successfully attracted numerous large and hyperscale data centers.

Digital Economy Contributes 30-40% to GRDP

According to the Ho Chi Minh City Department of Science and Technology, science, technology, and innovation have solidified their role as key drivers of the city’s growth. In the first 10 months of 2025, the city has achieved significant milestones, laying the groundwork for development over the next five years.

In 2025, the digital economy is expected to contribute 25% to GRDP growth (up from 22% in 2024) and will remain a primary growth driver over the next five years, contributing 30-40% to GRDP.

The city boasts a robust technological foundation, including the High-Tech Park, 10 large data centers, and over 500 research organizations. Notably, Ho Chi Minh City’s digital finance sector has risen to 30th globally in Blockchain.

Aiming to enter the top 100 global innovation startup ecosystems, Ho Chi Minh City is implementing several strategic breakthroughs.

These include special mechanisms and policies to attract talent and investment, such as non-refundable financial support for innovation, salary incentives, and the establishment of internationally accredited research centers. The city is also streamlining administrative procedures and forming dedicated task forces to provide timely support to strategic investors.

With nearly 100 high-quality training institutions, leading global technology corporations like SAP, Marvell, and Qualcomm have established offices and R&D centers in Ho Chi Minh City.

Currently, the city is home to over 55% of the nation’s programmers.

At the recent Ho Chi Minh City – US Fall Forum 2025, the city government presented a Memorandum of Understanding with AMD for workforce development and the establishment of an R&D center.

The Department of Finance signed a cooperation agreement with Nasdaq to develop the Vietnam International Financial Center in Ho Chi Minh City.

The High-Tech Park Management Board and Evolution Data Centres signed a PDCA agreement, outlining the implementation roadmap for a $500 million Hyperscale Data Center Campus at SHTP.

The High-Tech Park and Intel also signed an MOU, with Intel providing equipment for chip packaging and testing to support training and research…