Nvidia (NVDA) has selected Taipei's Beitou Shilin Technology Park as the site of its first overseas headquarters, committing more than $40 billion New Taiwanese dollars ($1.27 billion) in investment and pledging to create over 10,000 jobs, Taipei officials said Wednesday, according to local news reports.

Taipei Mayor Chiang Wan-an said construction is expected to begin in June or July, with full support from the city government. He called Taipei "Nvidia's home," reported Taipei Times.

The agreement, finalized Feb. 6, includes an NT$12.2 billion royalty arrangement granting Nvidia a 50-year land-use right, with an option to extend for another 20 years, the report said. Chiang said Nvidia had also considered locations in Singapore, Hong Kong and the British Virgin Islands before choosing Taipei, it added.

Nvidia did not immediately respond to MT Newswires' request for comment.