MediaTek priced a record $3.9 billion zero-coupon overseas convertible bond offering, with NVIDIA subscribing for $3.5 billion, or nearly 90% of the issue and its largest direct investment outside the United States, and Alphabet participating for an undisclosed amount. The five-year Singapore-listed bonds carry a NT$4,513.75 conversion price, a 15% premium to MediaTek’s NT$3,925 close on August 31, mature on September 8, 2031, and imply maximum dilution of about 1.67% if fully converted. MediaTek will use the proceeds for foreign-currency material purchases while expanding custom AI chips and adopting NVIDIA’s NVLink Fusion platform for customized XPUs and rack-scale AI factories across data centers, edge computing and automotive systems. NVIDIA founder and CEO Jensen Huang framed the partnership as a “10-year plan” and rejected circular-financing concerns, saying MediaTek operates independently and that the deal is strategic alignment rather than a sales subsidy. Lynx Equity reiterated a bullish stance on NVIDIA with a $250 price target, citing strong risk-reward dynamics and faster NVLink Fusion adoption for custom AI chips in automotive, personal computing and industrial devices. MediaTek shares rose roughly 10%, extending year-to-date gains approaching 200%, while updated market coverage said the TAIEX gained 820 points, or 1.8%, to 46,949, its highest level since July 1 and a fifth consecutive advance.