| 29 February 2024, Thursday |

Taiwan touts $900 mln in new business from Silicon Valley meetings

Taiwan’s economics minister said on Saturday that discussions with top executives at four big IT businesses in California’s Silicon Valley resulted in new business worth T$30 billion ($940 million).

Wang Mei-hua has been in the United States all week to address “concerns” regarding supply chains and geopolitical challenges, according to her office.

Taiwan is a significant semiconductor producer, and it is home to the world’s largest contract chip maker, Taiwan Semiconductor Manufacturing Corp, which supplies the majority of the world’s top technology corporations.

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.

“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 for comment.

Wang said on Tuesday that if Taiwan remains safe, global supply chains of vital semiconductors would also be secure.

  • Reuters