Jensen Huang, the chief executive of the world’s most valuable company, said “Taiwan is booming” and Nvidia’s investment will “fuel an incredible ecosystem here”.

Taiwan is a powerhouse in the manufacturing of semiconductors used to train and power artificial intelligence systems, and is the home of chip production giants TSMC and Foxconn.

“Four years ago, five years ago, Nvidia was spending about US$10, US$15 billion a year in Taiwan,” Huang said in Taipei where the company is building a new office.

“Now, we’re spending US$100 going to US$150 billion in Taiwan each year.”

Taiwan’s economy soared last year thanks to skyrocketing exports of AI hardware, a sector that is exploding worldwide.

Huang is in Taipei ahead of the island’s top tech show, Computex, next week.