Ho Chi Minh City forms task force to spur $2bn AI data center development

The task force, led by Lam Dinh Thang, director of the city's Department of Science and Technology, brings together 15 representatives from key municipal departments and agencies.

It also includes direct participation from major investors involved in the project, including Kinh Bac City Development Holding Corporation (KBC), Accelerated Infrastructure Capital (AIC), and the Northwest Saigon City Development Corporation (SCD).

Under the decision issued by the People's Committee of Ho Chi Minh City, the task force is mandated to coordinate across sectors, push forward project execution, and resolve administrative bottlenecks within their authority.

Matters that fall beyond their authority will be consolidated and reported to the People's Committee for timely review, guidance, and direction.

This formation builds on earlier plans by KBC, in partnership with AIC and state-run Vietinbank, to develop an AI-focused data center complex at Tan Phu Trung Industrial Park.

The project, known as the SGI-HCM Campus, is designed with an IT load capacity of up to 200 megawatts and is positioned to become one of the region's leading large-scale hubs for artificial intelligence computing.

According to the project plan, SGI-HCM is expected to support approximately 100,000 GPUs in the coming years, serving the intensive computing demands of artificial intelligence applications, software development, big data processing, and next-generation cloud computing.

The total investment capital is estimated at around $2 billion, to be mobilized through a combination of equity contributions and commercial loans, with KBC, AIC, and their partners participating as equity investors.

The project will be developed on roughly 10 hectares of land within a designated high-technology zone of the industrial park, reserved for digital infrastructure and data services.

The site has been regarded as having strategic advantages in terms of power connectivity, telecommunications and logistics, meeting international standards for hyperscale data centers and emerging neocloud infrastructure.