Eleveight AI plans $2B to eightfold its Armenia AI factory to 40 MW
What's the deal? Eleveight AIDealroom has a profile for this one. Try Dealroom → will invest $2 billion in a second phase of its Gagarin AI Factory in Armenia, adding 35 MW to reach 40 MW total. Construction has begun, with completion expected by mid-2027.
Why now? The move follows the factory's June 1 launch on 512 NVIDIA Blackwell B300 GPUs. Eleveight says its first 1.5 MW of live capacity was fully committed within a month, driven increasingly by international enterprise clients.
What's the endgame? Eleveight is building export-grade AI compute from a small country. Phase 1, backed by an initial $150 million, will reach 5 MW and more than 1,000 active GPUs by the end of 2026, pending equipment shipments.
The factory sells compute as a cloud service, not hardware: training, tuning, and inference delivered on current-generation GPUs. It runs at a Power Usage Effectiveness of 1.1 and a Water Usage Effectiveness of 0 L/kWh, using a closed-loop design.
Why Armenia? The project is designed to export compute globally because its capacity exceeds domestic demand. A 2025 memorandum between Armenia and the United States cleared the export of NVIDIA's B300 GPUs, and NVIDIA vice president Rev Lebaredian recently called Armenia's moment a "once in a lifetime" opportunity.
What could go wrong? The reported investment and customer bookings are company claims. Rival Firebird, which opened its Hrazdan factory in August with Perplexity as an early customer, has far larger ambitions — more than 70,000 GPUs and 300 MW by the end of 2027.
"When we launched, the core question was whether Armenia could support AI infrastructure at this scale. Global market demand has provided a definitive answer," said Arman Aleksanian, co-founder and chief executive officer of Eleveight AI.
The signal: Armenia is racing to become a regional AI-compute hub, and competing capital-intensive projects are emerging fast. By some estimates, if all planned capacity comes online, the country would rank fifth globally in power capacity and second per capita.
Read more: eleveight.ai
Image credit: Eleveight AI
