Kazakhstan made a major entry into the global technology arena on November 7, signing an agreement with Nvidia and Freedom Holding Corp. to build a $2 billion Sovereign AI Hub.
The deal anchors a broader package of AI-related memorandums that could attract up to $10 billion in total investment. It was finalized during President Kassym-Jomart Tokayev’s recent visit to the United States, where his delegation signed 30 bilateral agreements worth roughly $17.2 billion across sectors including infrastructure, education, and energy.
The Sovereign AI Hub will utilize Nvidia’s exascale computing infrastructure, designed to process a billion billion calculations per second, with a planned facility capacity of 100 megawatts. Freedom Holding Corp., a financial services firm listed on NASDAQ, is serving as the project’s principal financing partner.
Zhaslan Madiyev, Kazakhstan’s Minister of Artificial Intelligence and Digital Development, stated the project is vital for building a sovereign AI ecosystem fundamental to the nation’s technological independence. Separately, education partnerships with OpenAI account for approximately $50 million in additional commitments.
For investors, this marks a transformative move for Freedom Holding Corp., positioning it as the financial backbone of the country’s AI infrastructure. However, it is critical to note that memorandums of understanding are non-binding, and the $10 billion figure represents potential investment, not a single guaranteed check.