Technology: Investment 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.

Google officially launched its new transatlantic submarine cable, Nuvem, which connects Myrtle Beach in the United States to Sines. The infrastructure aims to increase the resilience of digital communications across the North Atlantic and is expected to be fully operational by 2027.

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.

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 government has introduced the National Data Center Plan (Plano Nacional de Centros de Dados or PNDC) to position Portugal as a European hub for digital infrastructure. The strategy aims to simplify complex regulations and address fragmented oversight to attract more investment. While the sector welcomes the guidelines, industry experts warn that the success of the initiative depends on effective execution.

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.

Portugal and Spain formalised a joint, equal application to build a European artificial‑intelligence 'gigafactory', pitching an estimated €8 billion of investment and planning infrastructure on both sides of the border — with the Portuguese site expected in Sines. The proposal aims to compete for EU support in a spring selection process that will choose several projects under a public‑private framework. Regional businesses, universities and local planners should monitor the bid for procurement and employment opportunities.