Trillion-dollar Nvidia subsidized to create Taiwan AI R&D center
Taiwan’s government has agreed to provide Nvidia Corp. with NT$6,700 million (about US$220 million) towards the cost of setting up an AI R&D center, according to Digitimes.
Nvidia, now the first trillion-dollar semiconductor company, is scheduled to employ 1,000 people at the facility.
The money is being awarded by the Ministry of Economic Affairs under the “Pilot Enterprise R&D Deep Cultivation Plan.” The plan is intended to encourage inward investment by major international manufacturers.
Jensen Huang, CEO of Nvidia, was born in Tainan, Taiwan. He emigrated to the US and worked as a chip designer for AMD before founding Nvidia in Santa Clara, Calif.
Fabless Nvidia’s share price has more than doubled over the last year due the company’s dominant position in sale of GPUs used for AI applications. This has made it the most valuable semiconductor company with a market valuation of over 1 trillion dollars.
This is almost twice that of foundry chipmaker TSMC and eight times that of former market leader Intel Corp.
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