ArmInfo. Large investments are of great importance to the Ministry of Economy, and this is a major step towards long-term stability. The Deputy Minister of Economy similarly commented on the opening of an AI factory in Armenia in Hrazdan, equipped with NVIDIA graphics processing units (GPUs), during a panel discussion at the Second Investment and Financial Forum in Yerevan.
"It should be noted that Armenia has significant GPU production capabilities. But the question is whether we really want to apply this to AI research, to improving, accelerating, and digitalizing management," Gasparyan noted. He emphasized that the next challenge will be using these opportunities to stimulate business, especially small businesses and startups. "The big challenge for us is to properly utilize the capabilities of GPUs. We (the government) must also apply this in our processes." "These are huge opportunities, and we need to get started," he emphasized.
As a reminder, Firebird co-founder Alexander Yesayan announced at a press conference a few days earlier that the computing infrastructure would reach 100,000 GPUs within the three phases of the Firebird AI Factory project in Hrazdan. He recalled that 6,144 NVIDIA B200 GPUs were delivered during the first stage, 45,000 Vera Rubin GPUs will be installed during the second stage, and 60,000 Vera Rubin GPUs will be installed during the third stage.
The forum, which is being held in Yerevan under the theme "Time of Opportunities: Armenia in the New Architecture of Global Markets," focuses on practical areas for developing Armenia's investment and financial ecosystem, new opportunities for attracting capital, strengthening the country's competitive position in the context of global economic changes, and expanding Armenia's role in the international financial system.
The business program includes a plenary session and panel discussions dedicated to the development of capital markets, investment instruments, the role of financial institutions, the digital transformation of the financial sector, and human capital development.
The forum brought together over 500 participants, including representatives of the government, financial, and business sectors, as well as the expert community.
