Hrazdan Becomes a Regional AI Hub: $4 Billion New Phase Confirmed

Hrazdan Mayor Sevak Mikayelyan has made an announcement: “As you may already know, an artificial intelligence (AI) factory is being built in Hrazdan with an investment of $500 million. I am pleased to inform you that the second phase of the project has been confirmed, with an investment of $4 billion. This is an unprecedented opportunity not only for our community but for all of Armenia as well, in the direction of making Hrazdan a significant regional technological and innovation hub.

It is noteworthy that there are currently only 13 similar AI factories operating in the world, and the 14th one is being constructed right here in Hrazdan. I would also like to mention that our key technological partner for the construction and subsequent operations of the AI factory is NVIDIA, whose market capitalization is estimated to be around $4.6 trillion in the global market. We are building the Hrazdan of the future together,” he stated.