For the first time in Armenia’s banking history, a syndicated loan agreement has been signed between six financial institutions to finance a major technology project, Minister of High-Tech Industry Mkhitar Hayrapetyan said.
Under the deal, leading banks and investment institutions have joined forces to provide $300 million in financing to Firebird AI for the construction of an AI factory in Hrazdan.
In his remarks at the signing ceremony, Hayrapetyan said the project represents a direct investment not only in Firebird AI, but also in Armenia’s technology sector, innovation, science, and economic development.
“This project is set to implement the strategic memorandum signed on August 8, 2025, in Washington, thanks to the active support of the governments of Armenia and the United States, the efforts of the company’s founders, and the investments of Armenia’s financial and banking community.
The project aims to create a modern artificial intelligence data center in Armenia, based on advanced technological solutions from the U.S. company NVIDIA,” the minister wrote.
The data center, being built through cooperation between Firebird, NVIDIA, Dell Technologies, and the Armenian government, is expected to become the most powerful in the region.
