Group 42 Holding Ltd, an Emirati artificial intelligence (AI) development holding company doing business as G42, is leading a $1 billion initiative to establish data centers and cloud computing services in Vietnam. This project is part of the United Arab Emirates’ broader plan to intensify its AI efforts amid stiffening competition in the AI ecosystem.

In a statement published on Monday, February 9, the firm pointed out that this initiative will take place under the partnership of G42, FPT Corp., a tech and telecom company, and the Viet Thai Group. This was after the team signed an agreement in Ho Chi Minh City, Vietnam, to construct three data centers in the country, committing to $1 billion in consumption.

Officials said this infrastructure will support Vietnam’s broader digital agenda, including government digital transformation projects, AI‑enabled industrial automation, local cloud adoption, and data sovereignty goals. Complementary efforts will also include national AI-skilling and workforce development programs designed to expand local talent in AI, cloud engineering, cybersecurity, and advanced computing.

Nonetheless, despite the collaboration being made public, sources noted that G42 failed to disclose specific information on the investment amounts, the project timeline for finalization, or the computing power to be made available.

Vietnam solidifies its position as a tech hub in the region

G42’s recent announcement reflects a growing trend in which several investors are allocating a significant portion of their funds to enhance AI infrastructure across Southeast Asia amid substantial expansion potential. However, while the region drew the attention of several individuals, reports highlighted that some people raised concerns about challenges in Southeast Asia, such as power shortages and limited land.

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These concerns were raised after protesters assembled at a Malaysian data center construction site to complain about dust pollution and its impacts on water resources.

Meanwhile, concerning the $1 billion data center project in Vietnam, Ali Al Amine, Chief Commercial Officer of G42 International noted that, “This Framework Agreement introduces a new approach for national AI transformation, focusing on sovereignty, collaboration, and purpose,” further stating that, “We appreciate the visionary leadership of the Government of Vietnam and thank our partners, FPT Corporation and Viet Thai Group, for their dedication to developing infrastructure that allows Vietnam to fully utilize AI while ensuring data sovereignty and digital independence.”

At this particular moment, Dr. Truong Gia Binh, the co-founder, chairman, and CEO of the Vietnamese technology company FPT Group, decided to weigh in on the matter. He began by acknowledging that Vietnam cannot make significant progress on its own, especially in key sectors such as AI, cloud computing, big data, and cybersecurity.

This, therefore, underscores the importance of strategic partnership. With the collaboration of G42, FPT Corp., a tech and telecom company, and the Viet Thai Group, industry executives have illustrated strong dedication and developed mutual trust, signaling the initiation of these commitments into action, the CEO asserted.

Notably, this project is anticipated to have significant economic effects in Vietnam by creating job opportunities, encouraging direct investment in infrastructure, and positioning the country as a leading tech hub in the region.

G42’s decision to sell off its Chinese assets

Earlier, G42 was subjected to a thorough investigation in the US regarding prior deals with startups based in China and Huawei Technologies Co., a Chinese multinational corporation and technology company.

Given these strict measures in place, G42 publicly stated that it has no involvement in Chinese assets, having sold them all and begun supporting US President Donald Trump’s efforts to export American AI chips, software, and models to diminish overall growth in China.

In the meantime, the company launched a framework for Digital Embassies during the World Economic Forum held earlier this year. The newly released framework permits other firms to establish and manage computing services in foreign territory. In addition, the system will ensure other nations have full legal authority over AI models and data evaluated in the United Arab Emirates.

What are Tether’s Recent Achievements?

The latest data reveals that during the last quarter of 2025, Tether expanded its gold holdings by 32 tons, culminating in 148 tons by January’s end. Positioned among the globe’s top 30 gold holders, Tether’s reserve surpasses those of nations like Australia and Greece. This acquisition spree, second only to Poland and Brazil’s central banks, accentuates how private companies are escalating to state-level financial clout.

Apart from publicized figures, it is speculated that Tether may have additional undisclosed gold holdings. These reserves are deployed not only for the dollar-tethered USDT but also support the gold-backed XAUT token. By January’s close, XAUT’s supply was $3.2 billion, underscoring pivotal interest in gold-backed cryptocurrencies, especially among emerging market investors.

Why is Tether Accumulating Gold?

The strategic gold acquisition occurs amid record gold prices, over $5,000 per ounce. Gold’s nearly 50% rise since September, fueled by factors such as central banks reducing dollar dependence, augments Tether’s asset values. Tether’s CEO, Paolo Ardoino, has indicated plans to allocate a significant portion, 10% to 15%, of their portfolio towards physical gold, hinting at sustained aggressive investment strategies.

Tether’s investment blueprint is not solely concerned with asset volume but is also aimed at providing buffer against potential economic disruptions. By the previous year’s end, Tether’s investment portfolio was valued at $20 billion, underscoring a commitment to underpinning USDT’s stability with tangible assets. According to Ardoino, the growing need for gold-backed crypto solutions arises from high inflation and currency devaluation in developing regions.

The substantial gold accrual signifies that Tether is morphing into one of the largest commodity entities globally. This rapid escalation from 126 tons, as per fourth-quarter reports, is attributed to Tether’s operational agility. The flourishing reserves are set to further congeal the interactions between the digital and traditional financial landscapes.

Continuing its gold acquisition spree, Tether may influence future global market dynamics. A private company amassing precious metals at a sovereign level illustrates the shifting paradigms in fiscal rules. As per Jefferies, Tether’s initiatives might inspire similar moves by other stablecoin creators.

“High inflation and currency depreciation in developing nations are driving the demand for our gold-backed digital solutions,” stated Paolo Ardoino, CEO of Tether.

Tether’s foray into gold accumulation reshapes its role from a technology-centric entity to a substantial player in the global commodity arena. This innovative approach underscores the evolving narrative of financial integration across platforms, meriting close observation from both traditional and digital financial sectors.