During a Cabinet meeting on Thursday, the National Science and Technology Council announced an ambitious plan to invest NT$300 billion (US$930 million) over the next decade in chip and artificial intelligence (AI) innovation. The program is known as the Taiwan Chip-Driven Industrial Innovation Program (TCIIP) and aims to achieve several key objectives.

One of the goals of the TCIIP is to attract international capital and companies, fostering collaboration and partnerships with entities from around the world. Another objective is to accelerate innovation in both the chip and AI sectors, driving technological advancements and pushing the boundaries of what is possible.

Additionally, the program seeks to bring in more international talent to Taiwan, leveraging the country's strengths in the semiconductor industry. Premier Chen Chien-jen expressed his hope to seize this "golden moment" and collaborate with the international community to establish Taiwan as a major player in the global chip design landscape.

Through this initiative, Taiwan aims to strengthen its technological competitiveness for the future and increase its pool of talented individuals, propelling it to become a leading force in chip design on the global stage.