TLDR: Vietnamese conglomerate Vingroup has announced a $66.93 million gain from the sale of a 65% stake in its artificial intelligence (AI) subsidiary, Movian AI, to American chipmaker Qualcomm. The transaction, which took place in March 2025, was revealed in Vingroup’s audited financial report for the first half of 2025. This strategic divestment is set to accelerate Qualcomm’s generative AI research and development efforts.
HANOI – Vingroup, Vietnam’s leading private conglomerate, has reported a significant financial gain of VND 1,765 billion (approximately $66.93 million) from the sale of a 65% ownership stake in Movian AI Artificial Intelligence Application and Research JSC to Qualcomm. The transaction, which was finalized in March 2025, was officially disclosed in Vingroup’s audited financial report for the first half of 2025, following an initial announcement in early April where the financial terms were not revealed.
Movian AI, a key entity within the Vingroup ecosystem, was formerly the generative AI division of VinAI Application and Research JSC. The company is recognized for its expertise in cutting-edge fields such as generative AI, machine learning, computer vision, and natural language processing.
The establishment of Movian AI occurred in November 2024, as a result of Vingroup’s strategic decision to split its AI subsidiary, VinAI, into two distinct legal entities. Movian AI commenced operations with a charter capital of nearly VND 227 billion (approximately $8.85 million).
For Qualcomm, a San Diego-based technology giant, this acquisition represents a strategic move to significantly expedite and scale its generative AI research and product development initiatives. The deal also includes a notable personnel transition, with Hung Bui, the esteemed founder and CEO of VinAI, joining Qualcomm.
This divestment is part of a broader trend for Vingroup, which also sold another AI company, VinBrain, to US tech giant Nvidia in December 2024, further transforming Vietnam’s AI landscape with increased US investments.
Financially, Vingroup demonstrated robust performance in the first half of 2025. The conglomerate reported a consolidated net profit of VND 4,509 billion ($172.2 million), marking a substantial 120% increase year-on-year. Consolidated net revenue also saw a dramatic surge, more than doubling to VND 130.37 trillion ($4.98 billion) during the same six-month period. In the second quarter alone, the firm recorded a net profit of VND 2.27 trillion ($86.49 million) on a revenue of VND 46.3 trillion ($1.77 billion), reflecting year-on-year increases of 31% and 9% respectively.
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As of Wednesday morning, VIC shares of Vingroup closed at VND 124,400 ($4.76) apiece on the Ho Chi Minh Stock Exchange.
