Region's Largest AI Factory Launched by Firebird in Armenia's Hrazdan

On August 12, the city of Hrazdan hosted the official opening of the region's largest artificial intelligence factory. This ambitious project was brought to life by Firebird, utilizing advanced NVIDIA DSX AI technology alongside robust infrastructure from Dell Technologies.

High-Profile Opening Ceremony

The event drew a distinguished list of attendees, underscoring its international significance. Armenia's Prime Minister Nikol Pashinyan attended the ceremony, alongside NVIDIA's founder and CEO Jensen Huang, and Vice President Rev Lebaredian. The guest list also included David Allen, the Chargé d'Affaires of the US Embassy in Armenia, Zhaslan Madiev, Deputy Prime Minister of Kazakhstan, and the executive leadership of Ardshinbank, including Chairman of the Management Board Artak Ananyan and Director Armen Gasparyan.

Unprecedented Financial Backing

The total investment for the first phase of the AI factory's development reached a massive 450 million dollars. In a landmark moment for Armenia's financial sector, Ardshinbank spearheaded a syndicate of 6 financial institutions to secure 300 million dollars of this funding. The syndicate included:

• Ardshinbank
• ACBA Bank
• Evocabank
• Fast Bank
• C-Quadrat Ampega Asset Management Armenia
• Amundi-ACBA Asset Management Fund

"The Armenian financial system is actively supporting the realization of a technological project of global importance," stated Artak Ananyan, Chairman of Ardshinbank's Management Board.

Ardshinbank's Market Position

As the lead financier, Ardshinbank plays a crucial role in Armenia's economy, serving over 912,000 customers with a workforce of around 2,400 employees. The bank operates an extensive network of 73 branches and maintains a representative office in Paris. Notably, it stands as the only private organization in Armenia to receive ratings from all three major global agencies: Standard & Poor's, Moody's, and Fitch.