Nvidia CEO Jensen Huang announces Taiwan headquarters and up to $150 billion annual investment in the country; shares drop 0.4% in premarket trading.

Nvidia will open a headquarters in Taiwan with construction starting next year and plans to employ 4,000 people at the new site. CEO Jensen Huang stated the company is spending up to 150 billion dollars in Taiwan each year, compared with about 10–15 billion dollars annually four to five years ago.

The Taiwan headquarters will position Nvidia closer to Taiwan Semiconductor Manufacturing Co. (TSMC, the world's largest contract chip manufacturer) and strengthen alliances with other manufacturing partners including Foxconn and Wistron.

Retail sentiment for NVDA on Stocktwits dropped to 'bullish' on Wednesday from 'extremely bullish' the previous day. Year to date, NVDA shares have added 15.2%, compared to 89% gains in the iShares Semiconductor ETF (SOXX) and 10% gains in the S&P 500 Index (SPX).