09:34 AM EST, 12/05/2024 (MT Newswires) -- Nvidia ( NVDA ) Chief Executive Officer Jensen Huang has agreed to set up an artificial intelligence research and development center in Vietnam, Bloomberg reported Thursday.

The initiative is intended to enhance Vietnam's AI infrastructure and support local startups, the report said.

The tech company is also acquiring Vingroup's AI unit, VinBrain, Bloomberg said. Details about valuation of the VinBrain deal were not shared by Huang, the report said.

Nvidia ( NVDA ) did not immediately respond to MT Newswires' request for comment.

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