US chip giant Nvidia plans to increase its annual investment in Taiwan to around $150 billion, calling the island the "epicentre" of the global Artificial Intelligence (AI) revolution.
Jensen Huang, Chief Executive of the $5 trillion tech company, announced the massive spending hike on Wednesday during a celebration in Taipei for Nvidia's planned Taiwan headquarters. The new corporate campus is scheduled to break ground later this year and become operational by 2030.
"Four years ago, Nvidia was spending about $10 billion to $15 billion a year in Taiwan. Now we are spending $100 billion, going up to $150 billion each year," Huang told an audience of around 1,000 employees and family members. He did not clarify how many years this annual $150 billion investment plan would last.
The upcoming Taipei headquarters will bring Nvidia structurally closer to its primary supplier, Taiwan Semiconductor Manufacturing Company (TSMC). TSMC is the world's largest contract chipmaker and manufactures the advanced semiconductors required to power global AI technologies.
Highlighting the island's critical role in global electronics, Huang predicted that Taiwan will remain the world's tech manufacturing hub for a long time to come.
