SBI Holdings (TYO:8473) and Sumitomo Corp. (TYO:8053) are linking up with Vietnam's FPT Corp. to accelerate the development of AI technology, according to a statement on Tuesday.

Under the alliance, the three parties will jointly invest in FPT Smart Cloud Japan, an AI solutions provider specializing in GPU Cloud infrastructure.

The partnership will see FPT retain 60% ownership of the venture, with SBI and Sumitomo each taking 20% stakes.

The trio aims to accelerate corporate AI adoption across industries, from financial services to manufacturing, by developing cutting-edge solutions that enhance productivity and customer experiences.

For SBI, this builds on existing Vietnamese partnerships including FPT Securities and TPBank, while Sumitomo brings its vast network of Japanese corporate clients. The deal signals Asia's growing role in the AI arms race, with Vietnam emerging as an unlikely tech hub through players like FPT-now set to make waves in Japan's $30 billion AI market.

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