Acba invests $45mln in AI infrastructure 

ArmInfo.  Acba Bank and Amundi-Acba Asset Management have allocated a total of $45 million to Firebird to support the development of an artificial intelligence (AI) infrastructure in Armenia. Specifically, Acba Bank contributed $25 million, and Amundi-ACBA Asset Management $20 million, according to a  statement from Acba Bank.

Acba Bank CEO Hakob Andreasyan emphasized: "The implementation of  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 together with Amundi-Acba.  In addition to financial support, Amundi-Acba also conducted an  analysis of the entire project." US Charge d'Affaires in Armenia  David Allen stated: "The relationship between the US and Armenia,  particularly in the technology sector, is very strong and continues  to grow. We are entering a new phase where we will see new  investments and expanded partnerships. This is a good example of what  can be achieved when American technology is combined with Armenia's  high-tech potential, knowledge, and human resources. This combination  will not only help Armenia become a technological leader and boost  the country's economy, but will also contribute to job creation and  economic growth."

Central Bank of Armenia Governor Martin Galstyan noted: "The  international permit obtained through this project includes advanced  semiconductor technologies, which, as US Vice President Vance  emphasized, are unavailable to most countries in the world. The fact  that Armenia has received such an exclusive permit 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."

RA Minister of High-Tech Industry Mkhitar Hayrapetyan noted: "These  are, first and foremost, direct investments in the development of  Armenian technology, science, and the economy. I am pleased that such  programs in Armenia are no longer just a dream-they are a reality,  around which high-quality consolidation is taking place."

Firebird AI CEO Alexander Yesayan noted: "I am pleased that our  financial institutions have also joined this project. After  painstaking work, we earned the trust of financial institutions, and  together we were able to conclude a $300 million deal. This deal, in  my opinion, is one of the largest, if not the largest, in the history  of Armenia in terms of its scale and significance."

It is worth noting that for the first time in the history of the  Armenian financial and banking system, six financial institutions  entered into a syndicated loan agreement for $300 million to finance  an AI megaproject. The signing ceremony for this agreement took place  on March 26 of this year. The syndicate members are Ardshinbank, Acba  Bank, Evocabank, Fast Bank, C-Quadrat Ampega Asset Management  Armenia, and Amundi-Acba Asset Management. These six financial  institutions have united around a single idea and megaproject:  financing Firebird AI.

The total investment in the first phase of the project is $450  million, the majority of which is provided by this syndicated  financing. The second phase of the project, announced during US Vice  President Vance's visit to Yerevan in February, includes the  deployment of an additional 41,000 NVIDIA processors, bringing the  total investment to nearly $4 billion. This means Armenia will be  among the countries in the world with the largest and most powerful  AI computing infrastructure.

According to US Charge d'Affaires in Armenia, David Allen, "This  partnership also reflects the strengths of our two countries,  leveraging leading US technology exports, including NVIDIA graphics  processing units (GPUs) and Dell technology, and building on the  potential and ambitions of Armenia's advanced high-tech sector."

This transaction establishes a new practical format for the use of  such a broad syndicated loan in the Armenian financial market. The  transaction is the largest in terms of financing volume, and the  project is the largest US investment in the Armenian economy.

The Firebird AI Factory will be the most powerful computing and data  center for artificial intelligence in the region. It will enable  research institutions, technology companies, and enterprises to  implement cutting-edge AI technologies on a large scale, positioning  Armenia as a rising force in the global tech landscape and a key hub  for next- generation innovation.