AI Chip Startup Groq Secures $1.5 Billion Investment From Saudi Arabia

by THEFUTURE.TEAM

February 11, 2025

Groq, a U.S.-based AI semiconductor startup, has secured a $1.5 billion commitment from Saudi Arabia to expand its advanced AI chip delivery in the country. The startup, founded by a former Alphabet AI chip engineer, specializes in AI inference chips that optimize speed and execute commands for pre-trained models.

Groq already has a partnership with Aramco Digital, the tech arm of oil giant Aramco, through which they developed a key AI hub in the region in December. The investment will fund the expansion of Groq’s data center in Dammam, with the startup having obtained the necessary licenses to export its chips despite U.S. export controls.

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The announcement was made at Saudi Arabia’s LEAP 2025 event, where the country also secured $14.9 billion in AI investments. One of the technologies supported by the Dammam Center is Allam, an AI language model developed by the Saudi government that operates in both Arabic and English.

In August, Groq raised $640 million in a funding round led by Cisco, Samsung, and BlackRock, bringing its valuation to $2.8 billion.

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Cyprus Families Face Wide Price Gaps On Back-To-School Supplies

by THEFUTURE.TEAM

August 28, 2026

School supply prices in Cyprus remained broadly stable compared with 2025, but significant differences between retailers mean families can pay very different amounts for similar products, according to the Cyprus Consumers’ Association.

The association surveyed online and physical stores operated by 10 businesses across Cyprus. Some products showed wide price gaps, while online prices were sometimes lower than those in physical stores.

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School Supplies Show Wide Price Gaps

School bags ranged from €1.89 to €209.95, depending on size, design and brand. Pencil cases cost between €0.48 and €45.55, while pencils, pens and markers ranged from €0.20 to €18.99. Notebook prices varied from €0.32 to €12.99, while filing folders cost between €0.19 and €8.48. The association advised families to compare prices across retailers and shopping channels.

Clothing Prices Also Differ

Jerseys and shirts ranged from €3.99 to €48, while trousers cost €12 to €27 and skirts €11.50 to €25. Parents were advised to consider quality and value rather than relying on brand names or advertising when choosing school products.

Focus On Need And Safety

Families should make a list of essential items before shopping and distinguish between school requirements and products influenced by advertising or trends. Younger children should avoid stationery designed to resemble or smell like food because of potential health and safety risks.

When choosing a school bag, parents should consider the child’s physical strength, the bag’s weight and its construction.

Check Return Policies

Consumers should check a retailer’s return policy before buying. Shops in Cyprus generally do not have to accept returns or exchanges when customers simply change their minds, so individual store policies apply.

Unsafe products, pricing discrepancies, misleading offers and missing price displays can be reported to the Cyprus Consumers’ Association at [email protected] or through the consumer line at 1429.

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