Taiwan Expects $940 Million of New Chip Investment from US
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Taiwan Expects $940 Million of New Chip Investment from US

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Taiwan's economy minister has drummed up new business worth T$30 billion ($940 million) in meetings with top executives at four major tech firms in California's Silicon Valley, the ministry said. Wang Mei-hua has been in the United States all week to respond to what her office has called "concerns" about supply chains and geopolitical issues.

Taiwan is a major semiconductor producer, home to the world's largest contract chip maker, Taiwan Semiconductor Manufacturing Corp (2330.TW), , and supplies most the world's major tech firms. The island's position as a producer has prompted worries in the United States it is too reliant on Taiwan, especially as China ramps up military drills to assert its sovereignty claims.

Wang met executives from NVIDIA Corp (NVDA.O), Cisco Systems Inc (CSCO.O), Applied Materials Inc (AMAT.O) and Synopsys Inc (SNPS.O), the ministry said in a statement, adding that she "got great interest" from them.

"The visits are expected to bring back U.S. research and development investment and orders in Taiwan worth more than T$30 billion," it said, without elaborating.

The ministry said Wang met with NVIDIA CEO Jensen Huang, Applied Materials CEO Gary Dickerson, Cisco senior vice president and global innovation officer Guy Diedrich, and Synopsys chairman and CEO Aart de Geus. NVIDIA declined to comment on the meeting. The other three companies did not immediately respond to requests.

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