Nvidia has signed a memorandum of understanding with Kazakhstan worth $2 billion to supply artificial intelligence chips. This significant agreement was formalized by Timur Turlov, CEO of Freedom Holding, and Kalista Redmond, Nvidia's Vice President for Global AI Initiatives. The chips will be provided to Freedom Holding and the Ministry of Digital Development, Innovations, and Aerospace Industry of Kazakhstan, bolstering the nation's rapidly advancing AI capabilities.
Key Takeaways
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Nvidia commits $2 billion in AI chips to Kazakhstan.
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The deal involves Freedom Holding and the Ministry of Digital Development.
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Kazakhstan is investing heavily in AI infrastructure, including a new supercomputer.
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The agreement is part of broader international collaborations signed in Washington D.C.
Bolstering Kazakhstan's AI Infrastructure
The agreement comes as Kazakhstan makes substantial strides in artificial intelligence development. In July, the National Center Alemcloud launched a supercomputer powered by Nvidia H200 GPUs, marking the most powerful computing solution in Central Asia with a capacity of up to 2 exaflops. This initiative was attended by President Kassym-Jomart Tokayev and signifies the country's commitment to high-performance computing.
Furthermore, Pavel Durov, founder of Telegram, recently unveiled an AI laboratory in Kazakhstan, a collaboration leveraging the country's supercomputer. This project aims to enable over a billion users to access AI features privately and efficiently.
Expanding International Cooperation
The Nvidia deal was part of a larger series of 30 bilateral agreements, totaling approximately $17.2 billion, signed during events at the U.S. Chamber of Commerce and the "Tenth Anniversary C5+1 Business Dialogue" in Washington D.C. These agreements also include collaborations in education and science with institutions like Arizona State University, Colorado School of Mines, Coursera, and OpenAI.
Other notable agreements include a memorandum between Kazakhstan's Ministry of Digital Development and Groq for AI cooperation, and a partnership with Beeline Kazakhstan and Starlink to implement Direct to Cell technology, enhancing connectivity in remote areas.
Kazakhstan's Growing Digital Economy
Beyond AI, Kazakhstan is actively pursuing advancements in the cryptocurrency sector. The National Bank has proposed legislative amendments to regulate crypto exchanges and introduce licensing. Additionally, plans are underway for payment cryptocurrency cards linked to licensed exchanges and the creation of a state cryptocurrency reserve and a digital asset fund.
The Astana International Exchange has launched Central Asia's first spot Bitcoin ETF, BETF, backed by digital gold held by a U.S. custodian. The Astana Financial Services Authority has also introduced an initiative allowing registered organizations to pay regulatory fees in USD-pegged stablecoins.
Sources
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Nvidia to sell $2 billion worth of AI chips to Kazakhstan, ForkLog.
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Nvidia signs $2B MOU with Kazakhstan for advanced chips, Seeking Alpha
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