Freedom Holding (FRHC) said on Friday that it has been tabbed to build the $2B Nvidia (NVDA) powered sovereign artificial intelligence hub in Kazakhstan.
“We are excited to be part of this transformative initiative to strengthen Kazakhstan’s position in the global AI landscape. By combining our expertise with NVIDIA’s advanced technologies and the visionary support of the Ministry, we aim to build a robust foundation for AI innovation and drive long-term growth throughout the entire Central Asian region,” said Timur Turlov, CEO of Freedom Holding, in a statement.
“Working with NVIDIA is an important step in implementing Kazakhstan’s national AI strategy,” said Zhaslan Madiyev, Deputy Prime Minister and Minister of Artificial Intelligence and Digital Development. “We are building the foundation of a sovereign AI ecosystem that will strengthen our economy, enhance competitiveness, and unlock new opportunities for the entire region.”
Nvidia shares gained fractionally on Friday after spending much of the session in the red. Freedom Holding shares gained more than 3.5% on Friday and rose nearly 2% in extended hours.
