Taiwan approves Nvidia subsidiary, investment in new office

US chip titan Nvidia can push ahead with an over $30 million plan to set up a subsidiary in Taiwan and build a new office there after the government announced Friday it had approved the move.

Jensen Huang, the chief executive of Nvidia — the world’s most valuable company — unveiled plans for the new office building in May as the company’s operations in Taiwan expand to meet growing demand for its sophisticated chips.

Taiwan is a powerhouse in semiconductor manufacturing and is home to Nvidia’s chipmaker-of-choice Taiwan Semiconductor Manufacturing…