Nvidia CEO says chipmaker ‘extremely likely’ to invest in Europe
NVIDIA, the world’s most valuable chipmaker, is “extremely likely” to invest in Europe, chief executive officer Jensen Huang said.
Huang said European Commissioner Thierry Breton suggested “that Nvidia should invest a great deal more in Europe and that Europe is going to be a wonderful place to build the future of Nvidia”. The pair met on Friday (Jun 23) as part of Breton’s discussions about content moderation and artificial intelligence with some of the largest tech companies in Silicon Valley.
Nvidia’s value has jumped as its graphics processors have become the most popular for data centres needed to power generative artificial intelligence. The company’s sales in its data centre unit gained 41 per cent to US$15 billion in 2022.
At the same time, the US, EU, Japan and India have agreed to spend more than US$100 billion in subsidies to attract the likes of Intel, Taiwan Semiconductor Manufacturing Co and Micron Technology.
Just in the last week, Intel announced plans for new plants in Poland, Germany and Israel, spurred by government incentives.
Nvidia will also look to invest in Europe, Huang said.
“The reason for that is Nvidia would like to be a global international company and what a better place to – and what can imagine a better place to invest,” he told reporters after meeting with Breton.
Breton invited Huang to continue the discussion in Brussels next month. BLOOMBERG
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