Breaking news

OpenAI Nears Completion Of $40B Fundraising Led By SoftBank

OpenAI, the trailblazer in the AI domain, is closing in on an impressive $40 billion funding milestone, spearheaded by Japan’s tech giant SoftBank. OpenAI is not just stopping there, as other investors are queuing to join this mega-round. Among the interested parties are Magnetar Capital, proposing an impressive $1 billion, along with Coatue Management, Founders Fund, and Altimeter Capital Management.

SoftBank’s contributions could be broken down into two tranches: an initial $7.5 billion, along with $2.5 billion from a group of syndicated investors. Later this year, SoftBank plans to add another $22.5 billion, with an extra $7.5 billion set to be syndicated. With this surge in funding, OpenAI’s valuation is set to skyrocket to a staggering $300 billion, compared to its previous $157 billion valuation secured in October 2024 with a $6.6 billion round led by Thrive Capital.

This financial leap signifies an evolving commitment to AI innovation, with OpenAI poised to potentially play a pivotal role in the tech world.

Explore how shifts like these align with broader industry trends in our piece on Europe’s Fintech Unicorns: Who’s Making Money?

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

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%.

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.

eCredo
The Future Forbes Realty Global Properties
Uol
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter