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

TAIPEI, Oct 15 (Reuters) – Taiwan’s economy minister struck new deals worth 30 billion DF ($940 million) during meetings with executives from four major Silicon Valley tech firms in California, the ministry announced on Saturday.

Wang Mei-hua has been in the United States all week to address what her office said are “concerns” about supply chains and geopolitical issues.

Taiwan is a major semiconductor producer, home to the world’s largest contract chipmaker, Taiwan Semiconductor Manufacturing Corp (2330.TW), and supplies most of the world’s major technology companies.

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The island’s position as a producer has raised concerns in the United States over its reliance on Taiwan, especially as China steps up military exercises to assert its sovereignty claims.

Wang met with executives from NVIDIA Corp (NVDA.O), Cisco Systems Inc (CSCO.O), Applied Materials Inc (AMAT.O) and Synopsys Inc (SNPS.O) on Friday, the ministry said in a statement, adding that it “has aroused great interest” on their part.

“The visits are expected to bring back U.S. investment in research and development and orders to Taiwan worth more than $30 billion,” he said, without giving further details.

The ministry said Wang met with NVIDIA CEO Jensen Huang, Applied Materials CEO Gary Dickerson, Cisco senior vice president and head of global innovation Guy Diedrich, and president and CEO of Synopsys, Art de Geus.

NVIDIA declined to comment on the meeting. The other three companies did not immediately respond to requests for comment.

Wang said Tuesday that if Taiwan remains secure, global supply chains of vital semiconductors will also be secure. Read more

($1 = 31.9720 Taiwan dollars)

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Reporting by Ben Blanchard; Editing by William Mallard

Our standards: The Thomson Reuters Trust Principles.

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