An Italian AI company most people have never heard of just announced plans to release what would be one of the largest open-source AI models ever built. Domyn, the Milan-based firm formerly known as iGenius, says it will drop a fully open-source, 400-billion-parameter model within a year.
What Domyn is actually building
The company’s focus is not consumer chatbots or AI-generated art. Domyn is targeting regulated industries, specifically financial services, government, and defense, where data governance and compliance are not optional extras but table stakes.
To power this ambition, Domyn is constructing what it calls AI gigafactories. The first facility, located in northern Italy, is expected to be operational by early 2026. It will run on thousands of NVIDIA Grace Blackwell GPUs.
The company has lined up strategic partnerships with NVIDIA, G42, Microsoft, and Cisco. Domyn is also reportedly aiming to secure a funding round of around 1 billion euros to expand operations.
