《TAIPEI TIMES》 Nvidia Taipei headquarters unaffected

Nvidia's Taiwan subsidiary is fulfilling all contractual obligations for the company's planned overseas headquarters in the Beitou-Shilin Technology Park, the Taipei City Government said yesterday.

The statement comes after Nvidia CEO Jensen Huang resigned on Thursday following reports of an alleged extramarital affair involving a woman suspected of working for Chinese intelligence agencies.

Nvidia's board of directors announced that Jensen Huang has resigned as president, CEO and board member, and that Chief Financial Officer Colette Kress has agreed to serve as interim CEO.

The Taipei City Government said the land rights contract was signed by Nvidia Iconic Taiwan, which has paid the required performance bond, land premium and land rent in accordance with the agreement.

Nvidia submitted a building permit application on July 15, and a review panel approved the project's foundation work plan on November 5, the Taipei City Government said.

The Taipei City Urban Development Bureau is expected to hold an Urban Design Review Committee meeting before the end of this month.

The Taipei City Government added that Nvidia would be able to start construction if the plans are approved.

Nvidia's decision to set up an overseas headquarters through its local subsidiary came after the company evaluated the project and sought to secure land rights, the Taipei City Government said.

The Taipei City Government does not expect the CEO change to affect the subsidiary's contractual obligations and urged the public to avoid speculation that could damage trust between the parties or undermine the agreement.

The Taipei City Government promised to continue to monitor the project and help the company obtain the necessary approvals to complete the headquarters and make it operational as soon as possible.

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