Shares in Vietnam’s leading technology conglomerate FPT Corporation have fallen to their lowest level in more than two years, shedding a quarter of their value since January as foreign investors stage a sweeping retreat from one of the country’s most closely watched stocks.
FPT’s share price closed at 71,900 Vietnamese dong (approximately $2.80) on May 8, marking the third consecutive session of heavy losses and touching the weakest level since February 2024. The sustained decline has wiped out more than 40,700 billion dong (roughly $1.6 billion) in market capitalization, leaving the company’s total market value at just under 122,500 billion dong (around $4.8 billion).
The sell-off has been driven in large part by aggressive divestment from foreign investors, who offloaded nearly 445 billion dong (about $17.3 million) worth of FPT shares in the May 8 session alone. Net foreign selling has now accumulated to nearly 13,900 billion dong (approximately $540 million) since the start of the year.
The reversal is striking given FPT’s history as one of the most coveted stocks among overseas investors on the Vietnamese market. For years, the foreign ownership limit for FPT shares was consistently maxed out, with international buyers even paying a premium to secure a stake. Today, nearly 323 million units of foreign ownership capacity sit unused.
Beyond capital outflows, sentiment has been weighed down by broader anxieties over the rapid advancement of artificial intelligence. As AI models grow more capable and cost-effective, investors have grown cautious about the long-term growth prospects and profit margins of technology companies in the sector.
FPT’s leadership, however, has taken a decidedly different view. At the company’s 2026 annual general meeting, Chairman Truong Gia Binh reaffirmed a firm commitment to what the group calls an “AI-First” strategy. He outlined plans to gradually develop core national technologies over the next five to ten years, aiming to position FPT alongside the world’s leading digital transformation and AI conglomerates. The company is also building strategic alliances with major technology partners, including Microsoft, to deploy advanced, multi-domain technology projects.
FPT has designated 2026 as the starting point for developing AI-powered industrial automation facilities, with the broader goal of running its operations primarily through AI within a decade.
For the full year 2026, FPT is targeting revenue of 58,580 billion dong (around $2.28 billion) and pre-tax profit of 11,629 billion dong (approximately $452 million), representing growth of 15.8 percent and 15 percent respectively. Its technology division is expected to lead the way, with projected revenue of 52,650 billion dong and pre-tax profit of 7,350 billion dong, up 18 percent and 25 percent year on year.
In the first quarter of 2026, FPT reported revenue of 12,480 billion dong and pre-tax profit of 2,804 billion dong, up 8.7 percent and 16.3 percent from the same period last year. Net profit attributable to parent company shareholders rose 14.4 percent to 2,487 billion dong, with earnings per share climbing 13.7 percent to 1,460 dong. The group said it has completed 21 percent of its annual revenue target and 24 percent of its profit target after the first quarter.
>> FPT shares fall 23% in 2026 as firm blames global tech slump
