CTCP VNG (stock code VNZ) reported in its 2024 Financial Statement a revenue of 9.273 trillion VND, up 22% compared to 2023, with gross profit reaching 3.426 trillion VND. Despite incurring a loss of 1.180 trillion VND, VNG has reduced its losses from 2.317 trillion VND the previous year. Mr. Le Hong Minh stated that 2024 is a challenging year, but the company has started to reap benefits from AI with revenues in the hundreds of billions. VNG has partnered with NVIDIA and ST Telemedia Global Data Centres to launch the first large-scale AI Cloud Data Center in Bangkok. Subsidiary GreenNode has become a key cloud service partner for NVIDIA and provides many useful AI solutions. VNG aims to become an “AI-First” company within five years, focusing on the development of AI across all product areas. AI tools are anticipated to provide significant economic benefits for Vietnamese businesses by 2030. Vietnam ranks fifth in Southeast Asia for AI readiness and is categorized as a Rising Contender in AI maturity.
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