Economy

On Wednesday afternoon (25 June), NATO member states unanimously agreed to increase the NATO standard for defence spending to 5 per cent of GDP over the next ten years. This is stated in the final joint declaration of the NATO summit in The Hague, published on the same day.

Armenia is set to host its own artificial intelligence data factory, with the project valued at $500 million and scheduled to begin operations in 2026. This investment initiative is being jointly implemented by Firebird, the Armenian government, and NVIDIA, JAMnews has reported. “FirebirdCloudAI is Armenia’s largest and most important tech investment the country’s ‘Stargate’. The idea was born when Jensen Huang, co-founder and CEO of NVIDIA, visited Yerevan in 2023. Today, it’s becoming reality. The AI factory, equipped with thousands of Blackwell GPUs, will spark innovation across Armenia,” Prime Minister Nikol Pashinyan wrote on X.