The Ministry of Economic Affairs (MOEA) in Taiwan has approved NVIDIA's application for its new local headquarters. The investment totals NT$3.3 billion, roughly $105 million USD. This approval comes just before Jensen Huang's visit for the Lunar New Year celebrations. The new subsidiary will be named NVIDIA Iconic Taiwan Co., and is expected to be signed ahead of the Lunar New Year.

The plot of land for the headquarters was initially intended for an insurance company but was vacant since 2021. The Taipei City Government negotiated a contract termination, paving the way for NVIDIA's acquisition. There's been a considerable increase in the investment amount from an earlier reported $32 million.

This investment reflects NVIDIA's growing presence and commitment to Taiwan. The island is a critical hub for the semiconductor industry, which aligns with NVIDIA’s focus on AI and high-performance computing. Expect more details about the project to emerge soon after the Lunar New Year celebrations.