AI chip giant Nvidia 'extremely likely' to invest in Europe

Nvidia's Jensen Huang told reporters that expanding in Europe was a "wonderful idea."

By investing money in Europe, Nvidia would join other semiconductor giants like Intel that are also looking to open new operations in the European Union, with the help of government subsidies.

"I would say it is extremely likely and the reason for that is because Nvidia would like to be a global international company and who could imagine a better place to invest in," Jensen said.

The US firm, which specializes in chips coveted in the artificial intelligence boom, has seen its value hover around $1 trillion in recent weeks, after the company's last quarterly earnings blew past expectations.

The CEO spoke after a meeting with the EU's top tech official Thierry Breton at Nvidia's headquarters in Silicon Valley.

"AI is about data, AI is about algorithms, and AI is about computing power," said Breton after his meeting with Huang.

"Computing power is thanks to companies like Nvidia," he said.

Japan's SoftBank Group said Monday it is selling British chip designer Arm to US chip company NVIDIA for up to $40 billion, potentially creating a new giant in the industry.