Jensen Huang calls for more power in Taiwan; Minister says supply secure until 2034

NVIDIA CEO Jensen Huang stated at a company event in Taiwan on the 27th that AI operations require massive amounts of electricity, and energy growth is crucial to Taiwan's GDP. In response, Minister of Economic Affairs Kung Ming-hsin stated that the government reviews power supply and demand annually and has confirmed that there will be no power shortages through 2034. Kung noted that the government already has coordination mechanisms with major firms like TSMC and Micron, and urged NVIDIA to notify the Ministry of Economic Affairs and Taipower early if it has major investment plans beyond its Taipei headquarters. To meet the power demand in the Beitou-Shilin Technology Park (Beishike), Taipower and the Taipei City government are coordinating on the location of a temporary substation, aiming for completion by 2029. Regarding the long-term Wenlin substation, there is still disagreement over whether it should be built above or below ground, and the government is urging a swift consensus.