Tech Spotlight 06: A Glimpse of Tech in November

November was a month of significant advancements in the technology and electric vehicle sectors. Both domestic and international players made substantial strides, shaping the future of innovation and sustainability.

In Vietnam, FPT Software set a new benchmark with a $225 million deal, exceeding its annual revenue goals. Vingroup's robotics division, VinRobotics, continued to drive the nation's technological aspirations. Additionally, Viettel and Qualcomm joined forces to pioneer a global Open RAN 5G network, promising faster and more reliable connectivity.

On the global stage, Tesla's stock soared amidst a surprising alliance. OpenAI announced bold initiatives to counter the current slowdown in AI innovation, signaling a renewed commitment to pushing the boundaries of artificial intelligence.

In the realm of automation, Ulysses Ecosystem Engineering introduced an autonomous robot designed to accelerate seagrass restoration efforts. Meanwhile, Huawei, despite facing global trade challenges, unveiled plans to mass-produce its advanced AI chip, the Ascend 910C, by early 2025.

These developments underscore the rapid pace of technological innovation and its potential to address pressing global challenges. As we move forward, the convergence of technology and sustainability will undoubtedly shape the future.

1. Vietnam to Cut Red Tape for Semiconductor Investments, Minister Reveals

At SEMIExpo Vietnam 2024, Minister of Planning and Investment Nguyễn Chí Dũng announced that Vietnam’s government is set to approve new policies this year to attract high-tech investment, especially in semiconductors. The new rules will streamline investment processes, allowing investors in high-tech zones to bypass lengthy licensing, environmental, and safety procedures if they comply with regulations. A new Investment Support Fund will offer financial aid for research, workforce development, and housing to bolster high-tech businesses.

2. VinFast to supply 3,000 EVs to Mexico to cut emissions

In early November, VinFast and Mexico’s Durango Drivers' Union signed an MoU to support the green transition in public transport, potentially bringing 3,000 VF5 electric cars and 300 electric buses to Durango. The agreement includes developing charging infrastructure, aiming to replace Durango’s petrol-powered fleet, reduce CO2 emissions, and lower operating costs. This partnership highlights VinFast’s growing role in global EV markets and aims to boost Mexico's EV ecosystem and job creation.

3. Tesla Stock Continues Rally Driven by Musk's Alliance with Trump

Tesla Stock Continues Rally Driven by Musk Alliance with TrumpMinimize imageEdit imageDelete imageSource: CNBCTesla shares jumped 8%, adding nearly $87 billion to its value, as investors anticipate benefits from CEO Elon Musk’s close ties with President-elect Trump. Since Trump's election, Tesla’s stock is up 28%, crossing a $1 trillion market value. Musk, a major Trump supporter, could reduce regulatory hurdles for his ventures, potentially benefiting Tesla, SpaceX, and Neuralink. Legal challenges over preferential treatment are possible, but Musk’s businesses may gain from the delay.

4. OpenAI Plans Moves to Break Through AI Innovation Slowdown

OpenAI’s upcoming model, reportedly called Orion, may offer only incremental improvements over GPT-4, with a slower rate of advancement than previous leaps. Testers noted that while Orion outperforms existing models in some areas, it may not always excel, especially in coding. To address the challenge of limited new data, OpenAI has formed a foundation team and is exploring strategies like training on AI-generated data and enhancing models after initial training. However, OpenAI has not confirmed plans to release Orion this year.

5. Tech Meets Nature: Ulysses Robots Plant Seagrass to Heal Oceans

A tech start-up - Ulysses Ecosystem Engineering - aims to restore seagrass using an autonomous robot that plants seeds 100 times faster and more affordably than manual methods. The company, now emerging from stealth, raised $2 million in pre-seed funding led by Lowercarbon Capital. Partnering with government agencies in Florida and Australia to support large-scale projects, Ulysses recently reached $1 million in revenue. The company also plans to expand its technology for broader coastal management, inspired by the EU's recent habitat restoration goals for 2030 and 2050.

6. FPT Software Lands Record $225M Deal, Surpasses Annual Revenue

FPT Software has achieved a significant milestone by securing a $225 million Managed Services contract with a U.S. client, marking a shift from traditional outsourcing to comprehensive service agreements. This deal exceeds the company's total annual revenue in its 17th year, reflecting its rapid evolution into a billion-dollar enterprise. These results position FPT on track to meet its 2024 targets of 61,850 billion VND in revenue and 10,875 billion VND in pre-tax profit. This landmark contract and robust growth signal FPT Software’s transformation into a global tech powerhouse,  solidifying its position as a global tech leader and driving Vietnam's economic growth.

7. Vingroup Corporate Drives Vietnam's Tech Ambitions with VinRobotics

Vingroup, Vietnam’s leading private conglomerate, has launched VinRobotics, a robotics company with a charter capital of VND 1 trillion (approximately $39.4 million). Vingroup holds a 51% stake in the new firm, with chairman Pham Nhat Vuong owning 39%, and his sons Pham Nhat Quan Anh and Pham Nhat Minh Hoang equally splitting the remaining 10%. VinRobotics will focus on developing advanced technologies in automation, industrial robotics, and AI, as well as designing smart robots and systems to enhance efficiency in industries, services, and daily life. The company will also develop and transfer technology solutions for other businesses, marking an ambition of Vuong’s family to be involved in leading the Vietnamese tech landscape. 

8. Viettel Pioneers Global O-RAN 5G Network with Qualcomm

Viettel has launched the world’s first commercial Open RAN (O-RAN) 5G network using Qualcomm's 5G RAN platforms, covering over 300 sites across Vietnam with plans for extensive expansion by 2025. This positions Viettel as a global leader in O-RAN technology and one of the largest carriers to adopt this approach. The network boasts impressive performance, including high download/upload speeds, robust coverage, and superior energy efficiency compared to traditional networks, all while reducing infrastructure costs.

9. Waymo Challenges Rivals with Major Robotaxi Expansion in Los Angeles

Waymo has recently removed the waitlist for its self-driving robotaxi service in Los Angeles, making it available across nearly 80 square miles of LA County. This marks the company's largest expansion, following earlier rollouts in Phoenix and San Francisco. Starting Tuesday, LA residents, including the 300,000 waitlisted users, can hail a ride via the Waymo One app. The service now operates more than 150,000 paid rides weekly across its three markets, up from 100,000 in August.

10. Huawei to Mass-Produce AI Chip Despite US Restrictions

Huawei plans to begin mass-producing its latest AI chip, the Ascend 910C, by early 2025 despite facing production challenges due to U.S. trade restrictions. The chip, designed to compete with Nvidia's AI chips, is being manufactured by China's Semiconductor Manufacturing International Corp (SMIC) using its N+2 process. However, limited access to advanced lithography equipment has kept yields at just 20%, far below the 70% needed for commercial viability. These restrictions, including bans on ASML’s EUV and advanced DUV technologies, have also hampered the production of Huawei's current 910B chip, which has only a 50% yield, leading to delayed orders and reduced production targets.

𝐋𝐓𝐒 𝐆𝐫𝐨𝐮𝐩 - 𝐋𝐓𝐒 𝐆𝐥𝐨𝐛𝐚𝐥 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬

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