Posts Tagged ‘Latvia’
The first private AI supercomputer cluster in the Baltics has been created
Latvian tech company Datakom and its specialised artificial intelligence division, AI Datacenter Engineers, have created the first private high-performance supercomputer cluster designed to run and train artificial intelligence models. This step marks a new era in the region’s technological independence, offering companies and public institutions the opportunity to develop AI solutions in a secure environment right here in Latvia.
Datakom’s supercomputer cluster consists of a combination of two systems, capable of reaching a performance of two petaflops. In other words, the system is capable of performing two quadrillion calculations per second. With such capacity, it can, for example, run AI-based video processing and analysis systems, host a local AI chatbot using models with 400 billion parameters, or be used as a local software development and analysis assistant.
“This is a real, full-fledged supercomputer that is now available to any company in the Baltics. Compared to Apple’s currently most powerful Studio computer, which has 100 CPU cores, this supercomputer has 12.3 thousand computing cores connected via an exceptionally fast data-transfer network, thus enabling near real-time operation between processors,” says Datakom’s Head of Business Development, Edijs Tanons. He notes that not so long ago—back in 2020—such performance was available only to the world’s wealthiest companies, which could afford to use one of the most powerful supercomputers in the world. Today, technological progress makes it possible to democratise this enormous computing power, including by making it available in Latvia.
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Originally published on 18 Dec
Read MoreOpen call for applications for foreign film and major event support programs; €10.7 million available over two years
From December 15, the Investment and Development Agency of Latvia (LIAA) will begin accepting project applications for the foreign film and major event support program with total funding of €10.7 million over a two-year period. Applications will be accepted until January 30, 2026.
The program helps Latvia compete internationally by attracting new film projects and encouraging event organizers in Latvia to hold international events that attract large numbers of foreign visitors.
The program aims to promote the export of services, raise Latvia’s profile, and generate long-term economic benefits by using Latvia as a platform for film production and international events.
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Originally published on 16 Dec
Read MoreairBaltic Increases Frequencies on Over 30 Existing Routes from the Baltics for Summer 2026
Latvian airline airBaltic has announced frequency increases on more than 30 existing routes across the Baltics for the Summer 2026 season. The airline will increase frequencies on 20 routes from Riga (Latvia), four from Tallinn (Estonia) and seven from Vilnius (Lithuania). This expansion will offer passengers more convenient travel choices and improved connectivity.
Mantas Vrubliauskas, VP Network Management at airBaltic: “Our summer 2026 expansion reflects a clear focus on our customers and their travel needs. By increasing frequencies on popular business and leisure routes, we are offering better connectivity, and greater flexibility to travellers, while continuing to strengthen Latvia’s and the Baltic States’ connectivity with Europe and beyond.”
For the upcoming summer season, airBaltic will launch ten new routes from the Baltic capitals. From Riga, flights will operate to Antalya (Turkey), Gothenburg (Sweden), Kaunas (Lithuania), Oulu (Finland), and Warsaw (Poland). From Tallinn, the airline will launch flights to Athens (Greece), Hamburg (Germany), and Vienna (Austria), while from Vilnius, new flights will connect to Chisinau (Moldova) and Zurich (Switzerland).
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Originally published on 17 Dec
Read MoreCybersafety in numbers Nordic-Baltic cyber consortium
Seven countries in the Nordic-Baltic region have agreed to pool their resources to stave off cyberattacks. Funded by the EU, hosted by Denmark, and with the participation of Estonia, Finland, Iceland, Latvia, Lithuania and Norway, the Nordic-Baltic Cyber Consortium will serve as a means for national cyber-security agencies in the seven countries to share information and to work together to develop new ways to counter cyberthreats.
The threat of cyberattack is not unique to the Baltic region, but the countries taking part in the consortium are among the most digitalised in the world, and thus particularly at risk. One strategy to protect themselves would be to take their foot off the pedal and move some services offline again, but that would mean losing many of the efficiency gains digitialisation has created, especially in the public sector. Doing so would also spoil plans to roll out artificial intelligence. By doubling down on digitalisation, they have decided that what makes them vulnerable is also what can make them stronger.
Read MoreFintech in Latvia: 127 companies, 91 million in taxes, and the ambition to grow in global markets
There are 127 financial technology companies operating in Latvia, employing more than 3,600 people, generating a turnover close to 400 million euros, and paying over 91 million euros in taxes annually. These facts were highlighted today at the Fintech Breakfast “What is needed to realize Latvia’s FinTech ambitions?”, held at RTU Riga Business School (RBS) and organized by the Fintech Latvia Association and the RBS Baltic Financial Center. During the event, participants were introduced to the latest industry data, development dynamics, and its impact on the national economy, as well as key directions and practical steps for strengthening the sector going forward.
Latvian Fintech Observatory — a foundation for data-driven policymaking
To set the stage for further discussion, Kristīne Dambe, Director of the RBS Baltic Financial Center, presented the newly developed pilot tool — the “Latvian Fintech Observatory”, a comprehensive database of Latvian fintech companies. The tool is designed to provide policymakers, university students, lecturers, and other stakeholders with an independent, data-driven view of sector development. “The industry must take collective responsibility for its own progress. We can shape our own narrative and learn from our neighbors, but it is crucial to base decisions on data that reflect real trends and can serve as input for strategy. We hope the observatory will encourage discussions grounded in facts rather than assumptions and inspire the next generation of fintech creators,” emphasized Dambe.
Policymakers: fintech — export potential and global competitiveness
Minister of Economics Viktors Valainis highlighted the importance of export capacity: “We all want Latvian-founded companies not only to strengthen the local economy but also to become export-capable technology firms. In fintech, we have several strong players proving that we can be competitive internationally. Therefore it is important to create an environment that encourages companies to choose Latvia as a place to grow and develop both regionally and globally, and to actively promote Latvia internationally by engaging potential investors and partners. The industry has great potential, and we have planned a series of initiatives on our side to continue supporting it.”
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Originally published on 12 Dec
Read MoreAll aboard Rail Baltica gets a political push
Rail Baltica—the multi-billion‑euro, European‑gauge rail line linking Estonia, Latvia and Lithuania with the rest of the EU—remains on schedule for completion in 2030, the prime ministers from the three countries said on Friday. Meeting in Rīga, they provided a status report for the project and pledged that they would devote the time and money needed for it to be completed (and promised to get as much EU funding as they could get their hands on).
The unwavering backing for the project is a reassurance; the problem is that it is necessary at all. All major infrastructure construction goes over time and over budget, but Rail Baltica is more than a matter of prestige. Like their decoupling from the Russian power grid earlier this year, its construction reiterates to Moscow that the Baltics are EU territory and would make it harder for the Kremlin to bring them back into its sphere of influence. Reports that Latvia was considering saving money by retaining the Russian gauge on its part of the railway may just have been rumour, but the seriousness of the situation cannot be exaggerated.
(📸 Inga Ruginienė)
Read MoreAnother order for battery trains for Škoda Group. Up to 16 units will be delivered to Latvia
Latvia is preparing for another significant step in the modernisation of its rail transport. Autotransporta direkcija (ATD) announces that Škoda Group has been awarded with the contract to supply up to 16 battery electric multiple units (BEMUs) for regional transport.
The value of the contract comprising of the base delivery of nine trains, an option for seven additional vehicles, spare parts and training is nearly EUR 160 million. The first vehicles are scheduled to be deployed in the first half of 2029. Following the successful launch of battery trains in the Czech Republic at the turn of 2024 and 2025 and the signing of a contract for up to 36 battery trains for Slovakia, this is another order for the Škoda Group for this type of vehicle.
The units will also be the first Škoda Group battery-powered vehicles designed for a 1,520 mm gauge. They represent the next evolution of the successful platform of single-deck regional trains developed for the Baltic markets. The project is financed by the state budget of Latvia and EU Cohesion Funds, which are supporting the development of modern zero-emission mobility in Latvia.
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Originally published on 11 Dec
Read MoreLatvijas Banka is issuing a licence to Nexdesk SIA for the provision of crypto-asset services
On 10 December, the Supervision Committee of Latvijas Banka issued a licence to Nexdesk SIA for the provision of crypto-asset services.
The company is entitled to provide the following crypto-asset services:
- providing custody and administration of crypto-assets on behalf of customers,
- executing orders for crypto-assets on behalf of customers,
- transferring services for crypto-assets on behalf of customers.
Nexdesk SIA plans to provide its services both in Latvia and in other European Union (EU) countries.
Nexdesk SIA is the second crypto-asset service provider to receive a licence in Latvia in accordance with the requirements established in the EU Markets in Crypto-Assets Regulation (MiCA). Along with the entry into force of the MiCA Regulation, a unified legal framework for the crypto-asset sector, including the requirement for crypto-asset service providers to obtain authorisation, has been introduced in the EU. Upon obtaining authorisation in one EU country, a crypto-asset service provider may provide services throughout the entire EU in accordance with the mechanism for notifying cross-border activities.
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Originally published on 11 Dec
Read More“Fazer Latvija”: 18 million investment, the most modern bakery in the Baltics, and ambitions for further growth
Fazer Latvija is part of the international “Fazer” Group, founded in 1891 in Finland. The concern specializes in the production of bread, sweets, and other cereal and plant-based products. Over the years, Fazer has expanded its operations to eight countries, including Latvia, and now exports its products to roughly 40 world markets. Fazer Latvija is one of the largest bakeries in the country: the Ogre factory supplies bread and other products not only to Latvia, but also to Estonia, Lithuania, and Finland. The group’s trust in Latvia is also evident in its large-scale investments: last year they reached 18 million euros, and additional improvements of more than one million euros are planned for next year.
The past year marked a turning point for the Fazer structural unit in Latvia. The company made a strategic decision to merge its Baltic bread factories and concentrate production in one location – the Ogre region. Until now, production had taken place both in Latvia and Kaunas, but a detailed analysis showed that modernizing and consolidating production in Latvia would deliver greater long-term benefits.
With the implementation of this plan, total investments in Latvia reached 18 million euros. These funds were used to modernize and expand the production building, install three new production and assembly lines, and build a new warehouse. Although the modernization and automation of the factory on a Baltic scale generally meant a decrease in the number of employees, Latvia was an exception – around 60 new jobs were created at the Ogre factory during the project. As a result, the total number of employees at “Fazer” bread and confectionery factories in Latvia now exceeds 300.
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Originally published on 8 Dec
Read MoreUS-based startup “7 Knots Digital” begins European expansion from Latvia
The US-based B2B (Business-to-Business) digital marketing startup 7 Knots Digital begins its expansion in Europe from Latvia, James Karklins, founder and owner of 7 Knots Digital, told LETA in an interview.
7 Knots Digital was founded in New York over five years ago with the aim of helping B2B businesses, B2B media and technology companies turn content into measurable results. The company works with B2B media, technology companies and event organizers, including major industry trade shows and conferences, to help turn content and marketing campaigns into measurable results, Karklins said.
“We started in New York and have since expanded to Canada, Toronto, and now Riga, Latvia,” said Karklins.
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Originally published on 2 Dec
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