Microsoft, Nvidia, others to benefit from U.S., Vietnam partnership
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The Biden Administration released a statement on Monday announcing an increased partnership with Vietnam, with a focus on business deals in a number of sectors, including in technology, semiconductors and boosting tourism.
In the release, the Administration said that Microsoft (NASDAQ:MSFT) will partner with Vietnam-based Trusting Social to develop a "generative AI-based solution tailored for Vietnam and emerging markets." 
Nvidia (NASDAQ:NVDA) is partnering with Vietnam companies FPT, Viettel, and VinGroup to bring artificial intelligence to the cloud, automotive and healthcare industries. 
Meta Platforms (META) announced the Vietnam Innovation Challenge in partnership with the Vietnam National Innovation Center, to "promote digital transformation among small and medium enterprises." 
Several semiconductor companies also announced plans to increase their presence in the Southeast Asian country, with Amkor (AMKR) unveiling a new $1.6B factory in Bac Ninh Province that will assemble, package and test chips.
Synopsys (SNPS) is starting a design and incubation center in conjunction with Saigon Hi-Tech Park, while the Administration added that Marvell Technology (MRVL) will bring a chip design center to Ho Chi Minh City.
Marvell (MRVL) CEO Matt Murphy was one of several American executives to attend the Vietnam-U.S. Innovation & Investment Summit.
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