Nvidia Adds Billions in Advance Payments to Fund Corning's New US Factory

(Central News Agency, San Francisco, 7th, Comprehensive Foreign Report) Nvidia CEO Jensen Huang announced today that in addition to the previously disclosed equity investment of up to US$3.2 billion (approximately NT$101.1 billion) in glass giant Corning, the company has also paid billions of dollars in additional advance payments to help Corning build a new factory in the United States.

Reuters reported that Corning produces glass materials used to make fiber optic cables that connect computers within large data centers.

Nvidia CEO Jensen Huang, during a joint interview with Corning CEO Wendell Weeks on CNBC today, stated, "This will create thousands of jobs, and he (Wendell Weeks) will build a brand new factory," which is expected to increase Corning's production capacity in the United States "tenfold."

Weeks confirmed the advance payment in a subsequent interview but did not disclose the specific amount, only stating that this payment is separate from the equity investment.

Weeks told CNBC host Jim Cramer that Huang not only funded the construction of a factory in the United States but also has the right to purchase approximately US$3 billion worth of Corning shares.