Technology: Economic activity news in Portugal

The space technology company Open Cosmos aims to launch a constellation of 192 satellites by 2030 to improve global connectivity. The first units of this low Earth orbit infrastructure are scheduled for launch later this year, with more than 96 expected to be in orbit by the end of 2028.

The Azambuja City Council has issued an unfavourable opinion on a proposed 2 billion euro data centre project in Alcoentre. Local officials refused to grant the development the status of Project of Potential National Interest (Projeto de Potencial Interesse Nacional or PIN), citing a lack of sufficient studies to evaluate the project's impact on the region.

The German digital bank Trade Republic has officially launched a branch in Portugal, authorized by the Bank of Portugal (Banco de Portugal or BdP). Customers can now obtain a Portuguese IBAN (PT50) and earn 3% interest on balances up to 50,000 euros, with the bank aiming to double its current base of 200,000 customers within a year.

Prime Minister Luís Montenegro officially presented Amália, a new artificial intelligence model developed entirely in Portuguese. The government has increased the total investment in this project to seven million euros, emphasizing the importance of a national AI strategy. While the model is currently in a testing phase, officials intend to make it available to public administration entities by the end of the year.

The government has approved a 200 million euro investment to strengthen Portugal's bid for a European artificial intelligence gigafactory. The Agency for the Technological Reform of the State (Agência para a Reforma Tecnológica do Estado or ARTE) has been authorized to manage the project, which aims to secure significant computing capacity for the country.

Banco Santander aims to generate over one billion euros in business value through artificial intelligence by 2028. The bank plans to integrate AI across its global operations, including its 185,000 employees, to both create new revenue streams and reduce operational costs.

Seguro highlights the need for proactive engagement from Portugal and the European Union in the fields of technology and AI.

The Canadian IT consultancy CGI announced the opening of its first Artificial Intelligence Centre of Excellence in Portugal. The new facility will focus on generative AI and agent-based technologies, with the company planning to hire 100 people annually to support digital transformation projects.

The Portuguese aerospace and defence sectors, represented by the AED Cluster, exported 92% of their production last year and expect growth exceeding 10% in 2025. The sector, which generated 2.1 billion euros in 2024, is increasingly targeting the United States and the Middle East as strategic markets.

A new satellite production facility, the Alverca Space Hub, is being built at the Air Force (Força Aérea) installations in Alverca and is expected to be completed by mid-2024. The 1.5 million euro factory will initially produce eight radar satellites for the Atlantic Constellation (Constelação do Atlântico). The project aims to establish Portugal's capacity to build and operate satellites for both domestic and European use.\n\nUpdate: Portugal launches six satellites including first national radar equipment\n\nPortugal successfully launched six new satellites into space on Monday aboard a SpaceX rocket from California. The launch included the country's first radar satellite for Earth observation and four satellites named after famous Portuguese authors, which form the Lusíada constellation (Constelação Lusíada). These new assets will allow for real-time image capture regardless of weather conditions or light levels.