TAIPEI (Taiwan News) – The Ministry of Economic Affairs has approved a NT$3.3 billion (US$105.35 million) capital injection by Nvidia Corporation into a subsidiary likely to invest in a Taipei headquarters, reports said Wednesday.

The government decision came on the eve of CEO Jensen Huang’s (黃仁勳) latest visit to Taiwan, per CNA. The AI pioneer plans to build his company’s Taiwan headquarters on the T17 and T18 plots at Beitou-Shilin Technology Park.

Taipei City Government is hoping that Huang and Mayor Chiang Wan-an (蔣萬安) can attend the signing of an agreement to turn over the relevant land surface rights to the Nvidia subsidiary. Previous comments by city officials suggested the contract could be signed before next month’s Lunar New Year holiday.

Huang is scheduled to arrive in Taipei on Thursday. He will attend the year-end banquet for Nvidia Taiwan staff on Friday and a dinner for senior executives from tech corporations in the company’s Taiwan supply chain on Saturday.

The Nvidia investment was one of seven cases approved Wednesday by the ministry’s Department of Investment Review.