Cyprus Nears US Visa Waiver Program As Refusal Rate Drops Below 3%

by THEFUTURE.TEAM

November 28, 2024

Cyprus has achieved a significant milestone in its efforts to join the US Visa Waiver Program, with the 2024 visa refusal rate for Cypriot citizens reported at just 2.16%. This figure, announced by the US Department of State, is well below the program’s required threshold of 3%, marking a crucial step toward visa-free travel for Cypriots.

Progress Towards Inclusion

Deputy Minister to the President, Irene Piki, highlighted the importance of this development, stating that Cyprus has met a “key prerequisite” for its inclusion in the program. She credited the progress to successful technical consultations between Cyprus and the United States over the past year.

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Piki reaffirmed the government’s commitment to securing Cyprus’ inclusion in the program by 2025, allowing Cypriots to travel to the US for tourism and business without the need for a visa.

Support from US Officials

US Ambassador to Cyprus, Julie Fisher, also acknowledged the milestone, describing it as a significant step forward. She expressed optimism that Cypriots would soon enjoy the benefits of visa-free travel to the US.

What’s Next?

The Cypriot government plans to continue its focused efforts to meet all remaining requirements, ensuring the process stays on track. This achievement underscores the growing cooperation between Cyprus and the US, paving the way for stronger ties and easier travel.

As Cyprus moves closer to this goal, the prospect of visa-free access to the US represents an important development for both business and leisure travellers.

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Z.ai Shares Jump 8% After New AI Model Runs On Chinese Chips

by News Editor

August 27, 2026

Chinese artificial intelligence company Z.ai released a new model Wednesday that it says operates entirely on domestically produced semiconductors, highlighting China’s push to reduce reliance on foreign AI hardware.

The low-cost GLM-5.3-Flash ranks 10th on the Artificial Analysis Intelligence Index, ahead of DeepSeek V4 Pro Max. Z.ai’s Hong Kong-listed shares rose more than 8% in Thursday trading.

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Z.ai Claims 100,000 Domestic Chips

Z.ai said it used 100,000 China-made chips to process online requests for GLM-5.3-Flash, including after its August 20 release under the code name “Ox Alpha”. The model ranked first by usage on the global OpenRouter platform over the past week.

The company has not identified the chip suppliers, while CNBC was unable to independently verify the claim. Counterpoint Research senior analyst Ivan Lam said Z.ai is likely using Huawei Ascend chips alongside processors from other domestic suppliers, reflecting closer cooperation between Chinese AI developers and hardware companies.

Running an AI model generally requires less computing power than training one, meaning the use of domestic chips for inference does not necessarily demonstrate that the same hardware could train the model at scale.

China Pushes Domestic AI Hardware

The development comes as Nvidia faces restrictions on selling advanced chips to China, while Huawei and other Chinese companies expand their alternatives.

Beijing has accelerated efforts to strengthen domestic semiconductor and AI capabilities following U.S. restrictions on advanced chip exports. Leading U.S. AI models are also not officially available in China.

Z.ai’s release therefore offers another indication of how Chinese AI companies are adapting their infrastructure as access to leading foreign processors becomes more constrained.

MiniMax Shares Also Rise

Z.ai rival MiniMax gained about 3% in Hong Kong after reporting a 283% year-on-year increase in first-half revenue. Its adjusted net loss more than doubled to $293 million, while its M3 model ranks 18th on the Artificial Analysis Intelligence Index.

Both companies listed in Hong Kong in January. Since then, Z.ai shares have climbed more than 800%, compared with a gain of more than 80% for MiniMax. Z.ai is scheduled to report its first-half results on Monday.

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