The Taipei City Government yesterday confirmed that it has negotiated a royalties of NT$12.2 billion (US$380 million) with artificial intelligence (AI) chip giant Nvidia Corp, with the earliest possible signing date set for Wednesday next week.
The city has been preparing for Nvidia to build its Taiwan headquarters in Beitou-Shilin Technology Park since last year, and the project has now entered its final stage before the contract is signed.
Taipei Mayor Chiang Wan-an (蔣萬安) said the city government has completed the royalty price negotiations and would now push through the remaining procedures to sign the contract before the Lunar New Year.
Photo: CNA
The nine-day Lunar New Year holiday in Taiwan is to run from Feb. 14 to 22.
Deputy Taipei Mayor Lee Shu-chuan (李四川) said the city government finalized the royalty price with Nvidia at NT$12.2 billion at about noon yesterday.
The amount includes NT$1.2 billion to be absorbed by Nvidia as part of a settlement reached after the city government terminated its contract with Shin Kong Life Insurance Co, Lee said.
In October last year, Shin Kong Life relinquished its land rights at the Beitou-Shilin Technology Park, prompting the city to reimburse the insurer NT$4.4 billion in royalties.
Lee said Nvidia is completing internal procedures, and the contract signing is expected as early as Wednesday and no later than Friday.
He added that the city would sign the contract with Nvidia Taiwan in principle, with the exact signing format adjusted to meet the company’s needs.
Regarding the groundbreaking, Lee said that after the contract is signed, Nvidia can begin applying for a building permit and be subject to the city’s design review process.
If no issues arise, the license will be issued, and the government hopes construction can start before June, Lee said.
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