TAIPEI (Taiwan News) — Taipei City on Tuesday signed a land-use rights agreement worth NT$12.2 billion (US$386 million) with Nvidia for its Taiwan headquarters in the Beitou-Shilin Technology Park, with Mayor Chiang Wan-an (蔣萬安) saying construction could begin as early as June.

When asked whether Nvidia CEO Jensen Huang (黃仁勳) would attend the groundbreaking ceremony, Chiang said Huang is expected to visit Taiwan from June 2-5 for Computex Taipei, per CNA. He said he has been updating Huang on progress via email and hopes they can break ground together, though it will depend on Huang’s schedule.

The city government said it signed a project-based surface rights contract with Nvidia for the T17 and T18 sites. Chiang and company representative Mark Steven Hoose served as signatories.

Chiang said the agreement grants a 50-year lease for land rights, with a possible 20-year extension, calling it a major milestone for both Taipei and Taiwan. He thanked Deputy Taipei Mayor Lee Shu-chuan (李四川), city departments, Taipei City Council, the public, and Shin Kong Life Insurance, which previously held the site’s development rights and helped facilitate the deal.

According to Nvidia’s investment plan, more than NT$40 billion (US$1.27 billion) will be invested during construction, creating over 10,000 jobs once operations begin.

Chiang said that “Taipei is Nvidia’s home,” adding that the agreement demonstrates the city’s strength and its ambition to become the core of the AI industry. Regarding whether Nvidia plans to build additional offices on the reserved site for Zhoumei Elementary School, in Taipei's Beitou District, he said the city has not received any such information but would provide full support if plans are proposed.