Israel set to finalize Nvidia land deal for major new campus in north

The approvals were required under Israel’s Land Law because Nvidia is a foreign-controlled company. The deal will allow the global technology giant to establish a new development campus on state land, allocated without a public tender and at a 51% discount.

Speaking to ynet, Quint said the transaction had already been approved by the Israel Land Authority’s management and that the Israel Land Council had authorized the 51% land discount. He said the authority would publish payment vouchers and technical specifications on Tuesday.

“We are completing the deal with Nvidia. This is major news for Israel in general and for the north in particular,” Quint said. Nvidia has not yet responded to requests for comment.

Last month, Kiryat Tivon emerged as the leading candidate in the competition to host Nvidia’s new campus, following a meeting at the Israel Land Authority attended by senior officials from the Planning Administration, the Transportation Ministry, the Israel Electric Corp. and Nvidia representatives. The meeting concluded with a decision to move forward with a land allocation exempt from a tender process.

According to the plan,…