Amazon To Test AI-Created Material For Carbon Capture In Data Centers

by THEFUTURE.TEAM

December 4, 2024

Amazon is stepping up its environmental efforts by testing a groundbreaking carbon-removal material for its data centers. The company, which is tackling the growing emissions linked to the artificial intelligence systems powering these centers, has partnered with Orbital Materials, a startup that used AI to design the innovative substance.

Jonathan Godwin, CEO of Orbital Materials, explained that the new material acts like an atomic-level sponge, with cavities precisely sized to capture CO2 without interacting with other elements. This targeted approach could be a game-changer in carbon filtration.

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One of the appealing aspects of the new material is its cost-effectiveness. Godwin estimates that the material could account for just 10% of the cost associated with renting a GPU chip for AI training, significantly less than the price of traditional carbon offsets.

Meanwhile, the demand for energy in data centers is rising, as AI’s rapid development requires more power and cooling solutions. This surge poses a challenge for Amazon, which is committed to achieving net-zero carbon emissions by 2040.

Amazon Web Services (AWS), the world’s largest cloud provider by revenue, plans to begin piloting the AI-designed carbon removal material in one of its data centers starting in 2025. This initiative is part of a three-year collaboration with Orbital, which will also gain access to AWS’s technology and open-source AI tools for further development.

Howard Gefen, General Manager of AWS Energy & Utilities, stated that the partnership would promote sustainable innovation, but financial details remain undisclosed. Orbital, with offices in Princeton, New Jersey, and London, began its journey about a year ago by setting up a lab to synthesize AI-designed materials. The startup aims to work with AWS to test additional AI-generated solutions, addressing water usage and cooling requirements in data centers. Godwin co-founded Orbital, which currently employs 20 people and is supported by investors such as Radical Ventures and Nvidia’s venture arm. Before this, Godwin contributed to materials science work at Alphabet’s DeepMind until 2022.

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Cyprus Current Account Gap Widens As External Debt Climbs In First Quarter Of 2026

by THEFUTURE.TEAM

June 30, 2026

Cyprus entered 2026 with a weaker external position, as the country’s current account deficit widened in the first quarter and its international investment position deteriorated, according to preliminary data released on Tuesday by the Central Bank of Cyprus (CBC).

Deficit Worsens Amid Softer Services Performance

The current account deficit widened to €1.27 billion in the first quarter of 2026 from €1.01 billion a year earlier, an increase of €263 million. Excluding special purpose entities (SPEs), the deficit reached €1.37 billion, compared with €1.12 billion in the first quarter of 2025.

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According to the CBC, the deterioration was driven mainly by a larger secondary income deficit and weaker net exports of services. Financial services, telecommunications, computer services and information services all weighed on the balance, although the impact was partly offset by an improved goods balance and a narrower primary income deficit.

Financial Flows Remain Positive

Despite the weaker current account position, Cyprus recorded net financial inflows of €1.14 billion during the quarter, exceeding the level reported a year earlier. The increase reflected a smaller net outflow in portfolio investment together with stronger net inflows under other investment, the CBC said.

External Balance Sheet Weakens

Cyprus’ international investment position also deteriorated during the quarter. The country’s net liability position widened to €28.31 billion at the end of the first quarter from €28.17 billion three months earlier.

After excluding SPEs, net liabilities increased to €10.03 billion from €8.93 billion at the end of 2025. Gross external debt rose to €226.66 billion from €225.19 billion, while external debt assets edged down slightly to €223.53 billion from €223.62 billion. As a result, net external debt increased by €1.57 billion to €3.14 billion.

Excluding SPEs, gross external debt stood at €59.94 billion, up from €59.18 billion at the end of 2025. Over the same period, net external debt improved slightly to minus €30.46 billion from minus €30.95 billion.

Trade Links Show Mixed Picture

The CBC reported current account surpluses with Germany and Russia during the first quarter, while deficits were recorded with Greece, the United Kingdom and the United States.

At the regional level, Cyprus narrowed its current account deficits with both the European Union and the euro area, providing a modest offset to the broader weakening in the country’s external balance.

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