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Sumitomo and SBI to Acquire 20% in FPT Smart Cloud

4/22/2025

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Summary

Story summary

Sumitomo Corp. and SBI Holdings are set to acquire 20% stakes in FPT Smart Cloud Japan, a subsidiary of Vietnam's FPT, in May 2024. This strategic move aims to bolster artificial intelligence applications, showcasing FPT's commitment to advancing its technological initiatives through its Tokyo-based data center.

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Story summary

Sumitomo Corp. and SBI Holdings are set to acquire 20% stakes in FPT Smart Cloud Japan, a subsidiary of Vietnam's FPT, in May 2024. This strategic move aims to bolster artificial intelligence applications, showcasing FPT's commitment to advancing its technological initiatives through its Tokyo-based data center.