YEREVAN, March 30. /ARКА/. To spur the development of artificial intelligence infrastructure in Armenia, Acba Bank and Amundi-Acba Asset Management have invested a total of $45 million in Firebird to establish an AI factory and data center.
“This project will have enormous significance and impact for Armenia. It will open new horizons for our country: Armenia will begin to play a significant technological role not only regionally, but also globally. We participated in this project jointly with Amundi-Acba. In addition to financial support, Amundi-Acba also conducted a project review,” noted Acba Bank CEO Hakob Andreasyan.
“The relationship between the US and Armenia, particularly in technology, is very strong and continues to grow. We are entering a new phase where we will see an increase in new investments and partnerships. This is a good example of what can happen when American technology combines with Armenia’s world-class technological potential, knowledge, and human resources. “This combination will not only help Armenia become a technology leader and stimulate the country’s economy, but will also contribute to job creation and economic growth,” noted U.S. Chargé d’Affaires in Armenia David Allen.
“The international approval received for this project covers advanced semiconductor technologies, which, as U.S. Vice President Vance emphasized, are unavailable to most countries. The fact that Armenia has received such an exceptional approval testifies to the strength of our partnership with the United States and also reflects a shared strategic vision, which is based on establishing Armenia as a key hub for advanced technology and global innovation,” noted Martin Galstyan, Chairman of the Central Bank of Armenia.
“This is, first and foremost, a direct investment in the development of technology, science, and the economy of Armenia. I am pleased that such projects in Armenia are no longer just a pipe dream. This is a reality, around which very good and high-quality consolidation has developed,” noted Mkhitar Hayrapetyan, Minister of High-Tech Industry of Armenia.
“I am pleased that our financial institutions have also joined this project.” After a great deal of work, we gained the trust of financial institutions, and together we were able to close a $300 million deal, which, in my opinion, in terms of scale and significance, is one of the largest in the history of Armenia, if not the largest,” noted Alexander Yesayan, CEO of Firebird AI.
Acba Bank contributed $25 million to the project, and Amundi-Acba Asset Management contributed $20 million.
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The bank is controlled by the Central Bank of Armenia.
