CEO of the American technology company NVIDIA, Jensen Huang, spoke about the significant potential for the development of the Armenian IT sector.
"The IT sector in Armenia has great potential for development, which provides an opportunity to take steps towards further deepening cooperation," said Jensen Huang at a meeting with the President of Armenia, Vahagn Khachaturyan, who visited the company's headquarters in Silicon Valley, California, on May 8th.
According to the press service of the President of Armenia, the meeting positively assessed the current close cooperation between NVIDIA and Armenia and discussed ways to further expand it and implement joint projects. In addition, opportunities for attracting investments in the development of high-tech and engineering education were discussed, as well as the initiation of necessary steps in this direction.
In 2022, NVIDIA opened an office and research center in Armenia with hundreds of employees, and recently became the fourth largest company in the world by market capitalization.
Earlier, BMG reported that the turnover of Armenia's IT sector in 2023 amounted to 837 billion drams ($2.12 billion), which is 252 billion drams (over $630 million) or 43% more than in 2022. Approximately 87%, or 755 billion drams ($1.91 billion), of the IT sector's turnover was realized in external markets (i.e., exported), while 13%, or 114 billion drams, was in the domestic market.
