Sumitomo and SBI to acquire a 40% stake in FPT Smart Cloud Japan.

Sumitomo, an integrated trading and business investment company, and SBI, a financial services company, agreed to acquire a 40% stake in FPT Smart Cloud Japan, an applied AI and cloud computing solutions provider. Financial terms were not disclosed. “Sharing a common vision for the transformative potential of AI, we are working closely with our strategic partners to expand the global application of AI technologies. This partnership also contributes to fostering innovation, strengthening organizational competitiveness, and maintaining technology autonomy, supporting Japan’s goal of becoming an AI nation,” Truong Gia Binh, FPT Founder and Chairman.