Outstanding growth, reaching international level

The artificial intelligence GPU (AI GPU) market is growing at a rapid pace, driven by the increasing demand for deploying AI workloads in data centers. According to Gartner, global AI GPU revenue will increase from $13.1 billion in 2023 to over $51 billion in 2028, at a compound annual growth rate (CAGR) of 32.9%. The main driver is the high demand for high-performance computing (HPC) infrastructure to support AI model training and inference. By 2028, more than 25% of new servers are expected to have workload accelerators integrated. In particular, as workloads shift heavily to AI inference – applying trained models to process real-world data and make predictions – 80% of deployed accelerators will be dedicated to this task, further increasing the need for GPUs in large-scale data centers.

Leading cloud service providers such as Oracle Cloud Infrastructure, Amazon Web Services and Microsoft Azure have integrated NVIDIA's H100 GPU into their ecosystems to meet market demand. This is a GPU line optimized for developing, training and deploying next-generation AI (GenAI), large language models (LLM) and recommender systems. VNG has promptly captured this trend by launching the GreenNode brand in Q4/2023. Cooperating with global partners such as NVIDIA and ST Telemedia Global Data Centres, GreenNode inaugurated a large-scale AI infrastructure in Thailand in June 2024, equipped with thousands of H100 SXM5 GPU chips from NVIDIA. GreenNode's goal is to provide comprehensive infrastructure solutions for businesses of all sizes, effectively supporting the training and deployment of AI models, and promoting the AI ​​ecosystem in the Asia region. This is a strategic step to help VNG affirm its technological capacity and proactive role in the global digital transformation wave.

In 2024, cybersecurity threats will continue to grow and become more complex, affecting every industry and sector. Notable risks include web application attacks, insider access abuse, and social engineering – with financial losses for each incident running into millions of dollars.

The expansion of digital operations, integration with third parties, and regulatory compliance pressures have made cybersecurity risk management a top priority for businesses. According to the FAIR Institute’s Cybersecurity Risk Report, the banking and finance industry remains the most targeted sector, due to the large amounts of valuable personal and financial data it holds. Internal risks – including both accidental and intentional employee actions – are the top threat, with internal errors alone causing an average loss of up to $3 million per event. A global survey by KPMG also found that banks are increasingly vulnerable to Authorized Push Payment (APP) fraud, where fraudsters impersonate reputable organizations to trick users into transferring money.

As banking becomes increasingly digital, cybercriminals exploit vulnerabilities such as fake websites, social media scams, and AI-powered deepfakes, making detection and prevention more challenging. These scams are evolving rapidly, leveraging advanced technology to bypass traditional security layers.

According to a report from Precedence Research, the global cloud computing market is forecast to grow strongly over the next decade, from USD 753.11 billion in 2024 to USD 5,150.92 billion in 2034, corresponding to a compound annual growth rate (CAGR) of 21.2%. This impressive growth reflects the increasing dependence on cloud-based solutions, as businesses and governments promote digital transformation to improve operational efficiency, improve customer experience and modernize processes. The development of the hybrid cloud computing model is also one of the key drivers, helping businesses flexibly expand their IT infrastructure at optimal costs. At the same time, the proliferation of new technologies such as the Internet of Things (IoT), Artificial Intelligence (AI) and Edge Computing is driving demand for cloud computing, as businesses look for real-time data processing and AI-based in-depth analytics.

Seizing this trend as a strategic opportunity, VNG officially entered the market in 2018 with the brand VNG Cloud, providing a comprehensive service ecosystem including: Infrastructure as a Service (IaaS). Platform as a Service (PaaS). Software on SaaS platform. These services are designed to support businesses in their digital transformation journey, meeting diverse requirements in terms of scale, security and performance. VNG Cloud's system is operated on a Tier III standard Data Center platform located in Tan Thuan Export Processing Zone, meeting international standards for high availability, information security and stability, being a reliable infrastructure platform for businesses in the digital age.

Established in 2022, Digital Business (DB) is VNG's B2B business division after nearly 20 years of focusing on serving individual users. With the vision of becoming a trusted partner on the digital transformation journey of every business, DB's product ecosystem helps lower the barriers to accessing AI for businesses, supporting them to optimize operations and business efficiency, creating a foundation for sustainable growth in Vietnam and the Asia- Pacific region.

In 2024, DB recorded outstanding achievements, reflecting its competitiveness and adaptability in the context of a volatile technology market. Total revenue grew by 70% compared to 2023, of which 43% came from the international market, affirming the success of the "Go Global" strategy. The banking and finance industry is identified as DB's focus in the coming time, as DB is cooperating with 70 businesses and organizations in this customer group.

Typical products such as GreenNode, VNG Cloud, TrueID... have become solid foundations, supporting diverse business needs of all sizes: from financial institutions requiring maximum security to small and medium enterprises needing AI solutions at reasonable costs.

Go Global Strategy and Leading the AI ​​Trend

In 2024, VNG DB focuses on realizing two core strategies: "Go Global" and AI Commercialization.

The “Go Global” journey has accelerated strongly in the past year, when DB pioneered in increasing investment in AI Cloud infrastructure, as well as continuously expanding the market successfully in the US, Middle East - North Africa and Asia - Pacific. DB continuously reached important cooperation agreements with prestigious global technology partners such as NVIDIA, ST Telemedia Global Data Centres, VAST Data...

Notably, in June 2024, GreenNode - DB's AI Cloud business unit and NVIDIA's Preferred Cloud Partner, demonstrated outstanding speed and AI commercialization capacity when successfully deploying an AI Cloud data cluster in Bangkok (Thailand), using 1024 NVIDIA H100 SXM5 GPUs and Infiniband connectivity. This is one of the first large-scale AI Cloud infrastructures in Southeast Asia, completed in less than 6 months and achieved tens of millions of USD in revenue in the first months of operation. Cooperating with STT GDC in Thailand, which has the fastest lead-time in the region and ensures international standards for electricity and cooling, has helped the project overcome challenges in complex infrastructure architecture, while opening up opportunities to serve demanding markets such as the US, Europe, and the Middle East.

At the same time, DB is at the forefront of AI trends by developing “tailor-made” solutions for businesses. GreenNode leverages its privileged access to NVIDIA’s advanced chips, architectures, and software technologies to deploy innovative AI business models, from infrastructure to platform, helping small businesses save on the cost of training and deploying Large Language Models (LLMs) and AI applications.

Outstanding technology solutions for businesses

DB is not only a technology provider but also a reliable partner in the digital transformation journey of Vietnamese enterprises.

In May 2024, VNG Cloud officially deployed the first international standard multi-regional cloud computing infrastructure in Vietnam, meeting data protection regulations under Decree 53/2022/ND-CP and Decree 13/2023/ND-CP on personal data protection. This infrastructure provides data storage solutions with dedicated bandwidth speeds of up to 50Gbps, helping customer businesses to access without interruption, ensuring continuity in business operations.

At the foundational layer, GreenNode supports engineers and scientists in programming, LLM training, and data analysis. The new generation of Intelligent Document Processing solutions has helped banks reduce 70% of data entry errors, saving more than 2,000 working days and billions of VND in document processing costs each year. In addition to being applied by many large banks, this platform is also widely applied by customers in the insurance technology sector and retail brands in many stages such as: automating the auto loan approval process, allowing customers to exchange purchase receipts for products, or helping brands optimize their customer loyalty programs.

TrueID - a comprehensive identity authentication solution including eKYC/video KYC/NFC, biometric authentication and a centralized digital identification center - is currently serving 40 banks and financial institutions in Vietnam, meeting the regulations in Circular 50 of the State Bank. TrueID has achieved NIST (USA) certification for face matching and is the first product in Vietnam to achieve iBeta ISO 30107-3 Level 2 certification, along with international security standards such as PCI-DSS, ISO 27001, with a 0% penetration rate. This solution protects against deepfake attacks, from mobile devices to server APIs, supporting digital banks to activate VIP accounts, increase transaction limits and safely issue thousands of new credit cards each month.

Veka.ai, another solution from DB, is currently deploying AI Camera infrastructure for more than 80 domestic enterprises, monitoring 20,000 cameras nationwide with a data storage system on the cloud infrastructure of up to 2,200TB, achieving 100% SLA. This solution is capable of analyzing and detecting abnormal behaviors as well as dangerous situations such as fire, theft, disorder, etc. thanks to its facial recognition and intelligent monitoring features, in order to issue timely warnings to authorities in real time.

In the field of digital content generation, GreenNode's Stable Diffusion platform application model is enhanced with the ability to learn many different design styles, allowing designers to train their own models. In addition, the application of Deep Learning allows this model to learn specific styles, helping businesses in different fields to shape the personality of digital content according to their needs. Currently, this application is being actively applied to the Artian platform (a digital drawing platform combining AI and art) of VNGGames. Since the beginning of 2024, Artian has been integrated to process images of more than 150 in-game characters and 100,000 created images, reducing the workload of game artists and marketing teams by 50-70%. Some stages have even recorded a 3-fold increase in performance.

Meanwhile, VNG Cloud recently launched a Local Zone in Bangkok, Thailand, with a managed Kubernetes service – a platform that automates the deployment, management, and scaling of containerized applications. The service is designed to support Vietnamese enterprises and startups expanding their business operations in the region.

Vision 2025: Reaching far, sustainably

With the achievements in 2024, DB aims to consolidate its leading position in the field of AI and digital transformation in Vietnam, while continuing to expand its global footprint. The company is committed to continuing to invest in research, core technology development, and building an AI culture close to Vietnamese people, contributing to improving the competitiveness of businesses and the country in the digital age.

At the same time, GreenNode's AI research center (AI Lab) also identified the vision of "Building an AI culture for Vietnamese people", focusing on two key points: mastering core technology—including models and data—designed to suit the local market, and popularizing AI so that this technology becomes an indispensable part of work and daily life.

Outstanding achievements

GreenNode, a product of VNG Digital Business, won the “AI - Technology” category at the Asian Technology Excellence Awards 2024 (Bangkok, Thailand). The award recognized GreenNode's achievements and capabilities in building and operating the most modern AI Cloud center in Southeast Asia.

VNG Cloud was honored in the “Cloud -Technology” category thanks to the application of Kubernetes to VKS services, optimizing costs, expanding flexible scale and shortening server cluster setup time to 2-3 minutes. At the same time, AI/ML features improve customer experience, supporting the safe digital transformation process for thousands of Vietnamese businesses.

VEKA.AI, the developer of the Smart Surveillance Camera AI solution under VNG Digital Business, has won the A-IoT Digital Infrastructure Excellence category at the Sao Khue 2024 award organized by the Vietnam Software and IT Services Association (VINASA). The award evaluates businesses based on three main factors: uniqueness, efficiency, and market potential.

This is a series of excerpts from VNG Annual Report 2024. See the full version here

 

Source: https://www.vng.com.vn/news/enterprise/vng-digital-business-tang-truong-vuot-bac-vuon-tam-quoc-te.html