Vietnamese technology company FPT is aggressively pursuing acquisitions in the U.S. as part of its strategy to increase its annual revenue in the country to $1 billion by 2030.
FPT's recent investments include becoming a major investor in the artificial intelligence startup Landing AI, as well as the acquisition of U.S. product engineering services company Cardinal Peak. FPT's chairman, Truong Gia Binh, emphasized the potential for AI development in Vietnam and its alignment with the government's plans to advance its AI and semiconductor industries. The company's financial performance has seen a significant increase in consolidated net profit, prompting a focus on expanding into new fields such as AI and chips, as well as growing its international business. Established in 1988, FPT has a history of collaboration with notable companies like IBM to promote computer usage in Vietnam following the lifting of the U.S. trade embargo in 1994.
