Cyprus Airports Report Record Passenger Traffic In October 2024, Ministry Confirms Historic Year

by THEFUTURE.TEAM

November 7, 2024

Passenger numbers at Cyprus’ Larnaca and Paphos airports rose by 7.14% in October 2024 compared to the same month last year, as reported by the Ministry of Transport, Communications, and Works. This surge supports forecasts that 2024 will be a record-breaking year for the country’s two major airports, with total passenger numbers expected to exceed 12 million by year-end.

According to a Ministry press release, the January to October period has seen unprecedented passenger volumes, despite the challenges posed by rising geopolitical tensions. Overall, passenger traffic for the first ten months of the year rose by 5.3% compared to the same period in 2023, reinforcing the upward trend in air travel demand for Cyprus.

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In October alone, Larnaca Airport recorded an 8.8% increase in passenger numbers, while Paphos Airport experienced a 3.2% rise. Larnaca saw nearly 1 million travellers (957,625), while Paphos welcomed 380,440 passengers, marking October as one of the busiest months in recent history.

The primary travel markets for these airports were the United Kingdom, Greece, Israel, Poland, and Germany. Flight traffic also saw a significant boost, with a 10.54% increase in October compared to the previous year, totalling 10,390 flights.

Revised projections from the Ministry now anticipate a historic year for both airports, driven by sustained demand. As 2024 draws to a close, Larnaca and Paphos are poised to surpass 12 million passengers, setting a new benchmark for the island’s aviation sector.

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SpaceX Signs Compute Agreement With Google Ahead Of Planned IPO

by THEFUTURE.TEAM

June 8, 2026

SpaceX And Google Forge A Major Compute Partnership

SpaceX has announced a compute agreement with Google ahead of its planned initial public offering. According to a regulatory filing, Google will pay SpaceX $920 million per month from October 2026 through June 2029 in exchange for access to approximately 110,000 NVIDIA GPUs, CPUs, memory and related computing infrastructure.

Drawing Comparisons With Anthropic’s Agreement

The agreement follows a similar deal announced in May with Anthropic, which committed to paying $1.25 billion per month through 2029 for access to compute capacity at SpaceX’s Colossus 1 data centre near Memphis, Tennessee.

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Based on the disclosed figures, Google’s allocation appears to be smaller than the capacity assigned to Anthropic. SpaceX has not identified which facility will support Google’s workloads, although CEO Elon Musk previously stated that Colossus 2 would be reserved for xAI.

Meeting Surging Demand In AI Innovation

Google’s move comes at a time when the company is experiencing unexpected demand for its cutting-edge AI products. A Google representative emphasized that, citing the strong performance of the newly launched Gemini Enterprise platform, this strategic, short-term agreement is designed to bridge capacity gaps. With Google frequently recognized as one of the largest single owners of AI compute resources, the robust design of this deal underlines the intensifying competition in the technology sector.

Financial Implications And Future Prospects

The announcement comes as SpaceX prepares for its expected Nasdaq debut. According to preliminary SEC filings, the company plans to raise approximately $75 billion at a valuation of around $1.75 trillion. At the same time, Alphabet has continued to expand its investment programme, authorising more than $180 billion in capital expenditures and announcing plans for an $80 billion equity offering.

Terms And Conditions Of The Agreement

The contract includes a termination clause allowing either party to cancel the agreement with 90 days’ notice after December 31, 2026. Google’s access to the designated computing infrastructure is expected to increase gradually through September at a reduced rate. If SpaceX fails to provide the agreed number of GPUs by September 30, 2026, Google may terminate the contract after a one-month grace period or accept a reduced allocation at a lower monthly cost.

A Strategic Partnership With Longstanding Ties

The agreement builds on an existing relationship between the two companies. Google is already an investor in SpaceX and, according to Bloomberg, its stake could be worth more than $100 billion following the IPO. Reports also indicate that discussions between the companies are continuing around potential orbital data centre projects, which form part of SpaceX’s broader long-term strategy.

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