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Elon Musk vs. Donald Trump: A Tense Moment Over $500 Billion AI Project As Stock Markets And Dollar Falter

by THEFUTURE.TEAM

January 23, 2025

In an unexpected turn of events, stock markets hit a pause and the U.S. dollar faltered after an ambitious $500 billion artificial intelligence infrastructure investment plan sparked tension between President Donald Trump and billionaire Elon Musk, marking the first public conflict between the two since Trump assumed office.

The plan, designed to give the U.S. a competitive edge in AI, has drawn considerable attention. The private sector, including ChatGPT creator OpenAI, Oracle, Japan’s SoftBank, and Emirati investment firm MGX, is set to launch a joint venture called Stargate, which promises to build data centers and create over 100,000 jobs in the U.S., according to Trump. Describing the initiative as a “grandiose undertaking” and “a loud declaration of confidence,” Trump lauded the venture, which will see $100 billion in initial funding, with further investments expected over the next four years. The first data center is already under construction in Texas, and twenty others are planned, each spanning half a million square meters.

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The announcement sent shares in SoftBank, Oracle, Nvidia, and Arm Holdings surging—SoftBank gained 11%, Oracle rose 7%, and Nvidia and Arm rose 5% and 15%, respectively.

However, not everyone is on board. Musk, known for his candid and often controversial statements, took to social media platform X to challenge the credibility of the massive investment, suggesting that the companies involved don’t actually have the promised funds.

A source familiar with the financing of Stargate quickly refuted Musk’s claims, confirming t that the $100 billion in funding is secured through equity from the founding partners and additional co-investors.

Despite this clarification, the excitement over the Stargate project soon began to fade, impacting global stock markets. After a rally sparked by the announcement, stocks dipped—EUROSTOXX 50 down by 0.23%, the FTSE 100 by 0.3%, and the Nasdaq by 0.17%. S&P 500 futures also slipped 0.09%.

While the news initially overshadowed concerns about potential higher tariffs on U.S. goods, which could hurt global growth and fuel inflation, the focus soon shifted. Tariff threats began to limit currency movements, with the U.S. dollar index holding near a two-week low of 108.26. The euro remained steady at $1.0408.

In commodities, oil prices took a hit, and spot gold held firm at $2,754.49 per troy ounce.

This controversy surrounding Stargate pits some of the world’s wealthiest figures against each other. Musk, the world’s richest person with a net worth of $430 billion, faces off with fellow billionaires such as Larry Ellison ($231 billion), Masayoshi Son ($34 billion), Trump ($6 billion), and Sam Altman ($1.1 billion), all part of the ongoing saga surrounding this monumental AI initiative.

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Cyprus’ Strong Youth Employment Rate Still Does Not Guarantee Early Independence

by THEFUTURE.TEAM

September 16, 2026

Young people in Cyprus have a relatively high employment rate, but they leave the parental home later than the EU average, according to Eurostat data.

Cypriots left home at an average age of 27 in 2025, compared with 26.3 years across the EU. At the same time, 72.3% of people aged 20 to 29 in Cyprus were employed, well above the EU average of 65.5%.

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Strong Employment Does Not Mean Early Independence

Only nine countries recorded higher youth employment rates than Cyprus. Iceland led at 85.3%, followed by the Netherlands at 84%, Malta at 82.1%, Switzerland at 78.3% and Germany at 77%.

Norway recorded 76.5%, Ireland 76.1%, Denmark 74.8% and Austria 74.6%. Eurostat said countries where young people leave home earlier generally tend to have higher youth employment rates.

Southern Europe Sees Later Moves

Finland had the lowest average age for leaving the parental home at 21.4 years, followed by Denmark at 21.8 and Estonia and Lithuania at 22.7. Croatia recorded the highest average at 31.5 years, followed by Greece and Slovakia at 30.9. Spain and Italy both stood at 30.2 years.

Across the EU, the average has remained close to 26 since 2002, rising only slightly from 26.2 years in 2024 to 26.3 years in 2025.

Cyprus Labour Market Is Cooling

The figures come as Cyprus’ labor market shows some signs of easing, although demand for workers remains relatively strong by European standards.

Separate Eurostat data showed Cyprus had the EU’s largest annual decline in its job vacancy rate in the second quarter of 2026. The rate fell to 2.6% from 3.3% a year earlier, but remained above the EU average of 2.0% and the euro area average of 2.1%.

Cost Of Living Remains A Factor

Housing and other living costs can also affect how quickly young workers establish independent households. Eurostat reported that Cyprus’ household consumption price level was 89.2% of the EU average in 2025.

A relatively lower overall price level does not eliminate affordability pressures for people on modest incomes. For younger workers, the issue can be whether wages are sufficient to cover rent, utilities, food and other basic expenses.

Cyprus therefore combines relatively high youth employment with a later transition to independent living, suggesting that access to work and the ability to afford a separate household do not always move together.