Firebird’s AI Factory officially օpens in Armenia with financing led by Ardshinbank

ArmInfo.  Firebird has launched a large-scale artificial intelligence factory in the city of Hrazdan, Armenia, powered by NVIDIA DSX AI technology and recognized as the largest facility of its kind in the region.

The official opening ceremony of Firebird’s AI factory was attended by Armenian Prime Minister Nikol Pashinyan, NVIDIA Founder and CEO Jensen Huang, NVIDIA Vice President Rev Lebaredian, U.S. Chargé d’Affaires, ad interim in Armenia David Allen, Deputy Prime Minister of Kazakhstan Zhaslan Madiyev, as well as representatives of government, diplomatic, technology, and business communities.

The event was also attended by Artak Ananyan, Chairman of the Management Board of Ardshinbank, Armen Gasparyan, Member of the Management Board and Director of Corporate Business of Ardshinbank, and other representatives of the bank.

At a critical stage in the development and financing of the factory, Ardshinbank acted as the initiating and lead financial institution, forming, for the first time in the history of Armenia’s financial and banking system, a syndicate comprising six financial institutions.

“For Ardshinbank, being involved in this project is about more than financing. We highly value the fact that Armenia’s financial system is supporting the implementation of a technology project of global significance and contributing to the country’s positioning as a hub for high technology and innovation. The development of artificial intelligence is creating not only new technological opportunities but also new economic prospects, while the infrastructure required to support this development is becoming an important prerequisite for attracting new investments and fostering business growth,” said Artak Ananyan, Chairman of the Management Board of Ardshinbank.

The total investment in the first phase of the AI factory project amounted to USD 450 million. As part of this unprecedented transaction in the history of Armenia’s financial and banking system, the members of the syndicate joined forces around a shared vision and a megaproject, providing Firebird with USD 300 million in financing.

“This transaction was also an important milestone for Armenia’s financial market. Bringing together six financial institutions around a major technology project made it possible to combine banking and investment capital and structure the financing required for a project of this scale. The launch of the project today demonstrates that this financing is already being transformed into tangible infrastructure and new opportunities for Armenia’s economy and international technology cooperation,” said Armen Gasparyan, Member of the Management Board and Director of Corporate Banking at Ardshinbank.

In addition to Ardshinbank, the syndicate included Acba Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management Armenia, and the Amundi-Acba Asset Management Fund.

Ardshinbank is Armenia’s leading bank. It provides a wide range of universal banking services, offering solutions in retail, corporate, investment, as well as private banking and asset management. Ardshinbank serves over 912,000 clients with the support of more than 2,400 employees. The Bank operates a powerful multi-channel service and sales platform, including 73 branches, along with comprehensive mobile and online banking systems.

Ardshinbank has the largest branch network in the country, as well as a representative office in Paris. It is the only Armenian company rated by all three of the world’s leading rating agencies: Standard & Poor's (BB- (Stable)), Moody’s (Ba3 (Positive)), and Fitch (BB- (Positive)). The Bank’s rating is aligned with that of the Republic of Armenia, which represents the highest possible assessment for a private entity in the country.