Nvidia Taipei headquarters unaffected

BUSINESS AS USUAL: The city government said that it did not expect a change in CEO to affect building plans that were made by subsidiary Nvidia Iconic Taiwan Co

The Taipei City Government yesterday said that Nvidia’s Taiwan subsidiary was meeting all of its contractual obligations for the company’s planned overseas headquarters at the Beitou-Shilin Technology Park.

The statement came after Jensen Huang (黃仁勳) resigned as Nvidia CEO on Thursday following reports of an alleged extramarital relationship involving a woman suspected of working for Chinese intelligence.

Nvidia’s board announced that Huang had resigned as president, CEO and board member, and that chief financial officer Colette Kress had agreed to serve as interim CEO.

The T17 plot of the Beitou-Shilin Science Park in Taipei is pictured on May 19.

Photo: CNA

The city government said the land rights contract was signed by Nvidia Iconic Taiwan Co, which has made the required performance bond, land premium and land rent payments in accordance with the agreement.

Nvidia submitted its building permit application on July 15, while a review panel approved plans for the project’s foundation work on Nov. 5, the city government said.

The Taipei Department of Urban Development is expected to convene an urban design review committee meeting by the end of this month.

If the plan is approved, Nvidia would be able to begin construction, the city government added.

Nvidia’s decision to establish its overseas headquarters through its local subsidiary came after the company assessed the project and sought to secure the land rights, it said.

The city does not expect a change of CEO to affect the subsidiary’s contractual obligations, urging the public to avoid speculation that could damage trust between the parties or undermine the agreement.

The city government pledged to continue monitoring the project and helping the company obtain the necessary approvals to help complete the headquarters and make it operational as soon as possible.

In February, Taipei signed a NT$12.2 billion (US$371.5 million) agreement with Nvidia for 50-year land rights to the T17 and T18 plots at Beitou-Shilin Technology Park, with an option to extend the term by up to 20 years.