Qualcomm Inc. (NASDAQ:QCOM) has launched an artificial intelligence research and development center in Vietnam.

The company’s researchers will focus on advancing generative and agentic AI solutions across smartphones, personal computers, XR (extended reality), automotive, and IoT applications, Reuters reported on Wednesday, citing a company statement.

In July 2024, Vietnam opened its data center market to foreign investors, allowing 100% ownership, following the implementation of controversial data storage regulations that have attracted major industry players.

Also Read: Nvidia, Apple Face Bigger Risks From China Trade Talks Than Any Boost From UK Deal, Analyst Says

Since this announcement, companies including Nvidia Corp. (NASDAQ:NVDA), Apple Inc. (NASDAQ:AAPL), Lam Research Corp. (NASDAQ:LRCX), Alibaba Group Holding (NYSE:BABA) have reached out to Vietnam to diversify their supply chain base amid heightening geopolitical tensions between the US and China.

Lam Research weighed the supply chain shift to Vietnam, with the Vietnamese government canvassing the former to commit $1 billion to local production efforts.

Nvidia tapped Vietnamese tech firms for AI development. Nvidia plans to build AI research data centers in Vietnam with the government.

According to Bloomberg, Vietnam is eyeing an annual revenue of over $100 billion from the semiconductor industry by 2050. The government targets three big data centers and three AI centers by 2030.

In November 2024, Apple supplier Hon Hai Precision Industry Co, operating as Foxconn, committed $80 million to the country for a chip plant after bagging approval to invest $383 million in another chip facility in Vietnam.

Price Action: QCOM stock is trading lower by 0.36% to $158.55 premarket at last check Wednesday.

Read Next:

• Vietnam’s VinFast Burns More Cash To Spur EV Growth

Photo via Shutterstock