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.