Powerchip Semiconductor Manufacturing Corp (力積電) chairman Frank Huang (黃崇仁) met with French President Emmanuel Macron on Monday and proposed cooperation in artificial intelligence (AI) development, the company said in a statement yesterday.
Huang was invited to attend a round table on AI and Quantum investment opportunities presided over by Macron in Paris to discuss technology development trends, Powerchip said.
Huang, the only entrepreneur from East Asia invited by France to the forum, said that many US companies have worked with their Taiwanese counterparts in tech development and taken advantage of Taiwan’s well-developed information technology (IT) platform to support their global operations.
Photo courtesy of Powerchip Semiconductor Manufacturing Corp via CNA
They include IT service provider IBM Corp, software developer Microsoft Corp, search engine provider Google, consumer electronics giant Apple Inc, and AI chip designers Advanced Micro Devices Inc and Nvidia Corp, Powerchip said.
For example, Nvidia CEO Jensen Huang (黃仁勳) has repeatedly approached Taiwan’s semiconductor industry for help in supplying high-end chips as his firm develops more advanced AI graphics processing units, Huang said.
If France learned from the US in making good use of Taiwan’s well-developed technology platform and its tech companies’ experience, France and Taiwan mutually benefit from technology upgrades, cost controls and service improvements, he said.
France has built a robust foundation in fundamental technologies, but its cooperative ties with Taiwan are not as close as those of the US, Huang said.
France could use Taiwan’s advantages in the tech sector to become more of a force in emerging technologies, such as AI applications, he added.
Powerchip said the round table was also attended by representatives from US and European companies such as IBM, Dutch semiconductor equipment supplier ASML Holding NV and e-commerce behemoth Amazon.com Inc.
Representatives of sovereign wealth funds from Saudi Arabia and the United Arab Emirates were also present, it said.
The forum was part of the Choose France summit held at the Chateau de Versailles to drum up foreign investment in France.
The US dollar was trading at NT$29.7 at 10am today on the Taipei Foreign Exchange, as the New Taiwan dollar gained NT$1.364 from the previous close last week. The NT dollar continued to rise today, after surging 3.07 percent on Friday. After opening at NT$30.91, the NT dollar gained more than NT$1 in just 15 minutes, briefly passing the NT$30 mark. Before the US Department of the Treasury's semi-annual currency report came out, expectations that the NT dollar would keep rising were already building. The NT dollar on Friday closed at NT$31.064, up by NT$0.953 — a 3.07 percent single-day gain. Today,
‘SHORT TERM’: The local currency would likely remain strong in the near term, driven by anticipated US trade pressure, capital inflows and expectations of a US Fed rate cut The US dollar is expected to fall below NT$30 in the near term, as traders anticipate increased pressure from Washington for Taiwan to allow the New Taiwan dollar to appreciate, Cathay United Bank (國泰世華銀行) chief economist Lin Chi-chao (林啟超) said. Following a sharp drop in the greenback against the NT dollar on Friday, Lin told the Central News Agency that the local currency is likely to remain strong in the short term, driven in part by market psychology surrounding anticipated US policy pressure. On Friday, the US dollar fell NT$0.953, or 3.07 percent, closing at NT$31.064 — its lowest level since Jan.
The Financial Supervisory Commission (FSC) yesterday met with some of the nation’s largest insurance companies as a skyrocketing New Taiwan dollar piles pressure on their hundreds of billions of dollars in US bond investments. The commission has asked some life insurance firms, among the biggest Asian holders of US debt, to discuss how the rapidly strengthening NT dollar has impacted their operations, people familiar with the matter said. The meeting took place as the NT dollar jumped as much as 5 percent yesterday, its biggest intraday gain in more than three decades. The local currency surged as exporters rushed to
PRESSURE EXPECTED: The appreciation of the NT dollar reflected expectations that Washington would press Taiwan to boost its currency against the US dollar, dealers said Taiwan’s export-oriented semiconductor and auto part manufacturers are expecting their margins to be affected by large foreign exchange losses as the New Taiwan dollar continued to appreciate sharply against the US dollar yesterday. Among major semiconductor manufacturers, ASE Technology Holding Co (日月光), the world’s largest integrated circuit (IC) packaging and testing services provider, said that whenever the NT dollar rises NT$1 against the greenback, its gross margin is cut by about 1.5 percent. The NT dollar traded as strong as NT$29.59 per US dollar before trimming gains to close NT$0.919, or 2.96 percent, higher at NT$30.145 yesterday in Taipei trading