VinBrain, formerly an artificial intelligence (AI) subsidiary of the Vietnamese conglomerate Vingroup, has appointed Mark Steven Hoose, Nvidia’s chief tax officer, as chairman and legal representative following its acquisition by the U.S. semiconductor giant.

According to VinBrain Company Limited’s recent updates in the national business registration system, Mark Steven Hoose, born in 1967, has become chairman and legal representative of the AI company starting from the end of December 2024.

The company’s ownership has also shifted, with Nvidia International Inc., headquartered in the U.S., now holding control. 

VinBrain’s charter capital has exceeded VND627 billion (US$24.71 million), according to the business registration.

Mark Steven Hoose currently serves as Nvidia’s chief tax officer, as well as chairman and CEO of Nvidia Vietnam Company Limited, Nvidia’s legal representative in Vietnam, established in May 2024.

In early December 2024, Jensen Huang, CEO of Nvidia, announced the acquisition of VinBrain, calling it “the starting point for a major future design center.”

While the deal’s value has not been disclosed, the 2024 third-quarter financial report shows that the Vietnamese conglomerate Vingroup holds 49.74 percent of VinBrain’s shares, worth over $126 million.

Founded in 2019, VinBrain was originally VinBrain Automatic Management Solutions Consulting Limited Liability Company, with a charter capital of VND30 billion ($1.18 million). 

It was completely owned by Vintech Technology Development Joint Stock Company, in which Vingroup holds 86.67 percent.

At the close of 2024, the Vietnamese government and Nvidia also signed an agreement to cooperate in establishing an AI research and development center in Vietnam. 

This partnership is expected to fuel Vietnam’s billion-dollar AI technology sector in the years to come.

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