The Economics Ministry stated on Friday that Nvidia, a leading artificial intelligence company, will establish its first AI research and development center in Asia in Taiwan. This follows Google's recent launch of a second new hardware R&D office building in Taipei. 

Department of Industrial Technology (DOIT) Director General Chiou Chyou-huey (邱求慧) stated in an interview on Friday that the past year has been one of efforts to overcome many challenges. He since Minister Wang Mei-hua (王美花) led the delegation to Nvidia's U.S. headquarters, the company finally decided to set up its first Asian AI R&D center in Taiwan.

Chiou cited Taiwan&39;s national security by forging a shared interest with the global tech leader but will also attract other major foreign firms like Applied Materials, ASML, and Lam Research to expand their presence in Taiwan.

The total funding is approximately NT$24.3 billion (US$746.2 million) out of which NT$6.7 billion (US$205.7 million) is subsidized by the Economics Ministry and NT$17.6 billion (540.2 million) is raised by Nvidia. This 5-year plan will create 1,000 new work opportunities, and will also cooperate with domestic universities to cultivate talents.