US’s Nvidia could invest in AI Gigafactory in Portugal

Portugal’s development bank Banco Português de Fomento is forming a consortium that could bring on of Europe’s five AI Gigafactories to Sines.

Among the international partners is the possible involvement of Nvidia which is currently the largest company on the S&P 500, worth over US$4.4Bn – news that if confirmed would be excellent for Portugal says the American Chamber of Commerce in Portugal (AmCham), reacting to the the possibility.

This project, worth around €4Bn sees the supply of around 100,000 advances chips which are essential for the creation of an infrastructure that could strengthen Portugal’s role as a relevant centre of technological innovation in Europe.

The setting up of a gigafactory in Sines would not only be a large-scale investment but also would create hundreds of qualified jobs and place the country in the vanguard of digital transformation.

The possible participation pf Nvidia would be even more relevant taking into account its global plans to invest over US$100Bn in OpenAI, the creator of ChatGPT.

The presence of benchmark US companies in this consortium would strengthen the importance of strategic transatlantic relations between the two countries and the role that Portugal could make in the future of the digital economy.