Armenia Invests Millions in AI Infrastructure Development Led by Eleveight AI

Armenia is advancing its digital transformation by investing tens of millions of dollars in AI infrastructure, including specialized data centers and cloud solutions. Eleveight AI's co-founder, Arman Aleksanyan, highlights the potential applications of AI in analytics, automation, and risk management, and discusses the importance of favorable regulations for development. The project in Gagarin, near Sevan, has already begun implementation with an initial investment of approximately $70 million, aiming to enhance the country's technological ecosystem.

Published Mar 21, 2026

Armenia is investing tens of millions of dollars to develop AI infrastructure, transitioning from digital transformation discussions to practical AI project implementations. Eleveight AI, co-founded by Arman Aleksanyan, is a key player, focusing on applications in analytics, process automation, and risk management.

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The initial phase of their project in Gagarin, near Sevan, involves an investment of approximately $70 million, with equipment already in the country. While the regulatory environment is viewed as conservative, Aleksanyan emphasizes the need for development-oriented regulation to stimulate innovation and growth, identifying a lack of common understanding among market participants regarding regulatory goals.