Nvidia convinces European banks to buy expensive chips for open models

The claim: Nvidia announced at GTC Berlin that European financial services organizations are using accelerated computing and open weight models to build proprietary intelligence on their own infrastructure, with Revolut rebuilding its technology stack on a foundation model called PRAGMA.

The reality: Revolut and other institutions are spending hundreds of thousands of dollars on enterprise H100 clusters simply to host open-weight models that could otherwise run on standard cloud hardware, locking their engineering workflows deeper into Nvidia proprietary software stacks.

Why should I care? Could be big
Banking infrastructure shifts indicate where regulated capital is burning on hardware, but execution details remain sparse.

Read the original: Leading European Financial Services Organizations Embrace Open Models to Build Proprietary Intelligence