The Ministry of Economic Affairs (MOEA) has approved an application filed by artificial intelligence (AI) chip designer Nvidia Corp to remit NT$3.3 billion (US$105 million) into Taiwan for an investment in a new Taipei office,.
The approval came just a day ahead of the scheduled arrival by Nvidia CEO Jensen Huang (黃仁勳), who is expected to attend a "Weiya" banquet slated for tomorrow. Weiya is a year-end dinner held by businesses before the Lunar New Year holiday, which begins on Feb. 14 this year.
The funds prepared by Nvidia will be used to raise the capital of Nvidia Iconic Taiwan Co (台灣輝達經典) and the increased capital will be allocated for the development of the company’s new Taipei office, which will be located in Beitou Shilin Technology Park (北投士林科技園區), the ministry’s Department of Investment Review said in a statement.
Photo: EPA
Late last year, Taipei City Government terminated a contract giving the surface rights to Shin Kong Life Insurance Co () for the T17 and T18 lots of land in the technology park, where the US company wanted to build its new office.
On Monday, the city government approved a plan to combine the two lots into one by eliminating a 15-meter wide road dividing the two parcels of land in a bid to give Nvidia a larger area for development. In addition, the city government also changed the use of the land as a special technology development section.
Other than attending Nvidia’s Weiya in Taipei, Huang is also expected to meet with Taiwanese tech heavyweights at a second dinner banquet on Saturday including Taiwan Semiconductor Manufacturing Co (台積電) chairman C.C. Wei (魏哲家).
The Taipei City Government is hoping to sign an agreement with Nvidia witnessed by Huang during his stay in Taipei.
In addition to Nvidia’s NT$3.3 billion plan, the MOEA also approved a NT$1.54 billion investment in Taiwan offshore wind energy development sector by UK-based Stonepeak Formosa 4-3 Holdings Co.
As for outbound investments, the ministry said it has approved a US$500 million investment by PC brand Asustek Computer Inc (華碩) in its subsidiary Asus Global Pte Ltd focused on sales of 3C products such as computer systems, motherboards, various board cards, tablets and smartphones.
The ministry said it has also approved telecom service provider Taiwan Mobile Co (台灣大哥大) to invest US$90 million in PACM CPT Media Ltd in the British Virgin Islands, which will use the funds to invest in US-based Paramount Skydance Corp for global video publication.
In addition, AI server and iPhone assembler Hon Hai Precision Industry Co (鴻海精密) secured approval to remit a total of US$575 million overseas to expand production of computers, smartphones and other electronics items.
Meanwhile, the ministry has also give the green light to CTBC Bank Co’s (中國信託銀行) investment of about US$63.85 million in consumer banking business in Xiamen, China.
Singapore-based ride-hailing and delivery giant Grab Holdings Ltd has applied for regulatory approval to acquire the Taiwan operations of Germany-based Delivery Hero SE's Foodpanda in a deal valued at about US$600 million. Grab submitted the filing to the Fair Trade Commission on Friday last week, with the transaction subject to regulatory review and approval, the company said in a statement yesterday. Its independent governance structure would help foster a healthy and competitive market in Taiwan if the deal is approved, Grab said. Grab, which is listed on the NASDAQ, said in the filing that US-based Uber Technologies Inc holds about 13 percent of
The domestic unit of the Chinese-owned, Dutch-headquartered chipmaker Nexperia BV will soon be able to produce semiconductors locally within China, according to two company sources. Nexperia is at the center of a global tug-of-war over critical semiconductor technology, with a Dutch court in February ordering a probe into alleged mismanagement at the company. The geopolitical tussle has disrupted supply chains, with some carmakers reportedly forced to cut production due to chip shortages. Local production would allow Nexperia’s domestic arm, Nexperia Semiconductors (China) Ltd (安世半導體中國), to bypass restrictions in place since October on the supply of silicon wafers — etched with tiny components to
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday received government approval to deploy its advanced 3-nanometer (3nm) process at its second fab currently under construction in Japan, the Ministry of Economic Affairs said in a news release. The ministry green-lit the plan for the facility in Kumamoto, which is scheduled to start installing equipment and come online in 2028 with a monthly production capacity of 15,000 12-inch wafers, the ministry said. The Department of Investment Review in June 2024 authorized a US$5.26 billion investment for the facility, slated to manufacture 6- to 12nm chips, significantly less advanced than 3nm process. At a meeting with
Taiwan’s food delivery market could undergo a major shift if Singapore-based Grab Holdings Ltd completes its planned acquisition of Delivery Hero SE’s Foodpanda business in Taiwan, industry experts said. Grab on Monday last week announced it would acquire Foodpanda’s Taiwan operations for US$600 million. The deal is expected to be finalized in the second half of this year, with Grab aiming to complete user migration to its platform by the first half of next year. A duopoly between Uber Eats and Foodpanda dominates Taiwan’s delivery market, a structure that has remained intact since the Fair Trade Commission (FTC) blocked Uber Technologies Inc’s
RSS