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Sumitomo and SBI Holdings are set to acquire stakes in the AI division of FPT, a Vietnam-based technology and IT services provider, to accelerate AI development in Japan.
Following the investment, FPT, through its wholly owned subsidiary FPT Japan Holdings, will retain a 60% ownership stake in FPT Smart Cloud Japan.
The remaining ownership will be equally split between Sumitomo and SBI Holdings, at 20% each.
FPT Smart Cloud Japan delivers AI solution services including GPU Cloud resources essential for AI-based applications.
The unit will serve as a strategic platform to provide advanced AI capabilities to enterprises and organisations throughout Japan.
The collaboration will leverage FPT’s technological strengths along with the industrial networks and experience of Sumitomo and SBI Holdings.
The parties intend to deliver advanced AI solutions, scale AI and cloud operations, speed up AI adoption across industries and support Japan’s efforts to become a global leader in AI.
Furthermore, the parties intend to scale AI and cloud operations and develop a diversified ecosystem of products and services tailored to the Japanese market.
FPT founder and chairman Dr Truong Gia Binh said: “Sharing a common vision for the transformative potential of AI, we are working closely with our strategic partners to expand the global application of AI technologies.
“This partnership also contributes to fostering innovation, strengthening organizational competitiveness, and maintaining technology autonomy, supporting Japan’s goal of becoming an AI nation.”
Last year, FPT, through its subsidiary FPT Japan, partnered with OKI, a Japanese IT company.
This collaboration involves FPT acquiring partial ownership of OKI’s two software development subsidiaries in China.
"Sumitomo and SBI to acquire minority stakes in FPT’s AI unit" was originally created and published by Verdict, a GlobalData owned brand.
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