Cyprus Fortifies Tech Leadership With Strategic Partnership With Tenstorrent Inc.

by THEFUTURE.TEAM

October 20, 2025

Cyprus is poised to elevate its standing in the global technology arena with the signing of a strategic Memorandum of Understanding with Tenstorrent Inc., a world leader in artificial intelligence and RISC-V based computing solutions. This pivotal agreement, formalized at the Presidential Mansion on October 17, 2025, underscores Cyprus’s resolve to strengthen its capabilities in high-performance computing, digital sovereignty, and AI-driven innovation.

Establishing A New Era In Innovation

The MoU was signed by the Chief Scientist of the Republic, Mr. Dimitris Skouridis, in his capacity as ex-officio President of the Research and Innovation Foundation (IDEK), together with Tenstorrent’s CEO, Mr. Jim Keller. This strategic pact delineates a robust framework focused on four key sectors: advancing open source design in AI and semiconductor technology, building a dominant computing infrastructure to ensure digital independence, fostering academic collaboration and workforce development, and spurring public-private partnerships across critical industries such as energy, healthcare, maritime, and defense.

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Strategic Objectives And Vision

Cyprus aims to integrate into Europe’s burgeoning open-source and RISC-V ecosystem by leveraging its unique strategic advantages. The initiative is designed to construct a resilient digital infrastructure, compliant with European Union AI regulations, while concurrently nurturing academic excellence and cultivating a new generation of talent in AI, microelectronics, and advanced computing. By aligning with European initiatives such as the EuroHPC program and the Chips Joint Undertaking, the country is reinforcing its ambition to emerge as a regional leader in technological innovation and sustainable development.

Leadership Perspectives And Global Impact

In his remarks, Deputy Minister Dr. Nikodemos Damianou highlighted the mutual aspiration to drive forward the next generation of open-source, high-efficiency semiconductor designs. He stressed that the partnership with Tenstorrent not only aligns with Cyprus’s strategic objectives but also positions the nation to become a global hub for AI and innovation. Mr. Skouridis further emphasized that the arrival of Tenstorrent in Cyprus sends a powerful signal to the international tech community, enhancing the nation’s ecosystem and attracting significant intellectual capital.

Industry Pioneers And Future Prospects

Tenstorrent is recognized as a trailblazer in the design of open-source hardware based on RISC-V architecture. The company, celebrated for its cost-effective alternatives to leading GPU suppliers, is set to establish a global office in Cyprus by 2026. CEO Jim Keller, renowned for his contributions to prominent platforms developed by Apple, AMD, and Tesla, expressed enthusiasm about collaborating with Cyprus—a nation that shares his vision for open computing, innovation, and technological independence. This partnership is expected to catalyze breakthrough advances in AI, research, education, and commercialization of next-generation technologies.

Strengthening Cyprus’s Global Tech Footprint

The strategic accord comes as part of a series of high-level engagements involving state officials, academic leaders, and industry experts. It builds on discussions that began during the President’s visit to the United States and have since evolved through multiple bilateral meetings involving key stakeholders from the government, research centers, and the commercial sector. According to Invest Cyprus President, Mr. Eugenios Evgeniou, Tenstorrent’s establishment as the nation’s first AI chip company not only enhances Cyprus’s technological infrastructure but also accelerates its brain gain phenomenon, transforming the island into a magnet for global tech talent.

This MoU is fully aligned with the national strategic goals outlined in the President’s Vision 2035 and reinforces Cyprus’s commitment to sustainable, research-driven economic development with worldwide impact. As the nation charts its path forward, this agreement with Tenstorrent marks a significant milestone in Cyprus’s journey to become a respected technological hub in Europe and beyond.

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Bank of Cyprus Upgrade Signals Fresh Optimism For Greek And Cypriot Banks

by THEFUTURE.TEAM

June 26, 2026

Regional Banks Enter A More Favorable Cycle

Bank of Cyprus and Eurobank are well positioned to benefit from a renewed re-rating of Greek and Cypriot bank stocks, according to Cyprus-based investment firm Roemer Capital, which upgraded Bank of Cyprus to a buy rating and reaffirmed its positive view on Eurobank.

The firm cited easing geopolitical tensions, resilient economic growth in Greece and Cyprus, lower funding costs and Greece’s expected transition to developed-market status as the main factors supporting the sector.

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Roemer Capital also lowered its cost of equity assumptions, updated its forecasts following first-quarter 2026 results and extended its valuation horizon to the end of 2027, raising target prices across its banking coverage.

Bank Of Cyprus Gets The Largest Upgrade

Bank of Cyprus received the biggest revision, with Roemer Capital upgrading the stock from hold to buy and setting a target price of €11.10, implying potential total upside of 27%.

The firm highlighted the bank’s strong capital generation, profitability and projected 100% dividend payout, describing it as the strongest capital-return story among the banks under coverage. Roemer Capital maintained its buy rating on Eurobank, assigning a target price of €4.90 and forecasting potential upside of 28%. The report said the bank is well placed to benefit from loan growth, improving operating performance and merger-and-acquisition synergies.

National Bank of Greece and Piraeus Bank also retained buy ratings, with expected returns ranging from 25% to 36%. Optima Bank was upgraded to buy, while Alpha Bank remained at hold on valuation grounds.

Why Growth Still Sets The Region Apart

According to Roemer Capital, Greek and Cypriot banks continue to benefit from stronger economic fundamentals than many western European peers. The report pointed to faster economic growth, healthier balance sheets, low levels of non-performing exposures, capital ratios approaching 20% and strong customer deposit bases.

Analysts expect performing loans across the sector to grow at a compound annual rate of 6% to 8% through 2028, supported by private investment, digitalisation, green manufacturing, supply-chain expansion and a gradual recovery in household lending.

The report also said the conclusion of lending under the EU Recovery and Resilience Facility is unlikely to materially affect credit growth, as banks have already shifted back towards traditional commercial lending. Roemer Capital expects Euribor to remain between 2.2% and 2.5%, a level it believes should support both lending activity and net interest margins.

Geopolitics, Valuation And Market Structure Support The Case

The report said improving geopolitical conditions have strengthened the investment outlook, noting that Brent crude prices have largely returned to pre-war levels while Greek government bond yields have stabilised at around 3.5%. Although geopolitical risks remain, Roemer Capital believes the likelihood of a major inflationary shock or significant pressure on bank profitability has eased.

Another important catalyst identified by the firm is Greece’s expected promotion to developed-market status by FTSE Russell, STOXX and MSCI over the coming months.

According to the report, the reclassification should improve liquidity and attract a broader base of international investors. Roemer Capital also said Euronext’s acquisition of the Athens Exchange is expected to strengthen market infrastructure and increase international visibility, particularly for Bank of Cyprus and Optima Bank.

The firm noted that Bank of Cyprus has already benefited from its Athens listing, with average daily trading value increasing from less than €400,000 before its September 2024 move to nearly €6 million afterwards.

Economic Momentum Remains A Core Tailwind

Roemer Capital said both Greece and Cyprus have moved beyond post-crisis recovery and are now supported by private-sector-led growth. For Cyprus, the report highlighted recent tax reform and efforts to simplify the legal and regulatory framework, while also noting that limited foreign banking competition continues to support domestic lenders.

Overall, Roemer Capital expects Greek and Cypriot banks to remain well-positioned for profitable loan growth over the coming years.

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