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Cyprus Records EU’s Fastest Economic Growth In First Quarter

by THEFUTURE.TEAM

Robust Growth In A Challenging Landscape

The President of the Republic, Nikos Christodoulides, highlighted Cyprus’ recent economic performance during the 18th In Business Awards 2026 gala dinner, pointing to 3% economic growth in the first quarter of the year — the highest rate in the European Union.

He also noted that unemployment has fallen below 5%, placing Cyprus among the countries with the lowest unemployment levels in Europe despite continued geopolitical tensions, energy market volatility and broader global economic uncertainty.

Honoring Innovation And Strategic Investment

During his address, Christodoulides emphasized the role of entrepreneurs, investors and business leaders in strengthening Cyprus’ economic resilience and competitiveness. The awards ceremony, he said, reflects the country’s broader effort to support innovation, entrepreneurship and long-term economic development.

Fiscal Responsibility And Economic Resilience

The President also stressed the importance of fiscal discipline and stable economic management in helping Cyprus withstand both domestic and external pressures. He said continued upgrades from international credit rating agencies have strengthened investor confidence and improved Cyprus’ ability to attract high value-added investment. According to Christodoulides, those investments are contributing to trade growth while reinforcing Cyprus’ position as a business and investment gateway to the European market.

Aligning Education With Market Demands

Alongside economic reforms, the government is continuing efforts to align education more closely with labour market needs. Initiatives include expanding technical education programmes, introducing vocational guidance from an earlier stage in schools and updating curricula to place greater emphasis on practical skills development. The reforms are intended to better prepare future workers for evolving market conditions and emerging industries.

Forging Strategic Global Partnerships

International engagement remains a cornerstone of Cyprus’s strategy. President Christodoulides highlighted ongoing efforts to deepen ties with strategic partners such as India and Kazakhstan. His recent travels to Mumbai and New Delhi followed a landmark visit by Indian Prime Minister Narendra Modi in June, heralding a new chapter in Cyprus–India relations. This renewed collaboration is designed to unlock opportunities in technology, innovation, education, energy, and tourism, positioning Cyprus as a strategic European hub with a global footprint.

Nurturing Talent And Sustaining A Growth Trajectory

The president also highlighted initiatives such as the “Minds in Cyprus” campaign, developed together with Invest Cyprus, which aims to attract and retain skilled professionals. According to the government, strengthening human capital remains central to Cyprus’ long-term economic strategy and competitiveness.

A Vision For A Resilient Future

Through prudent policy-making, strategic investment in education, and dynamic international outreach, Cyprus is building the foundations for a new era of stability and prosperity. As the In Business Awards celebrate those who actively contribute to this vision, the President’s remarks serve as both a commendation of current achievements and a clarion call to further reinforce the nation’s competitive and resilient economic structure.

Nvidia’s AI Strategy Expands Beyond Chips As Competition Grows

by News Editor

Nvidia has built its dominance in artificial intelligence on its powerful chips, but growing competition from AMD and Google is pushing the company to rely on another major advantage: its financial strength.

The strategy became clearer last week when Nvidia announced plans with major Wall Street firms to help finance up to $500 billion worth of its AI systems. On Monday, the company also committed up to $105 billion to support OpenAI’s planned data center in Ohio.

Nvidia Uses Capital To Sustain AI Growth

Nvidia is trying to keep AI infrastructure spending growing, particularly as a small group of hyperscalers accounts for a large share of chip demand. Its quarterly free cash flow has increased 18-fold over three years to $48.5 billion, giving the company significant resources to invest across the AI ecosystem.

The chipmaker has also been buying stakes in AI companies. Its marketable equity securities reached $30.2 billion in the latest quarter, up from $12.9 billion a year earlier. Nvidia invested $30 billion in OpenAI in February, while its latest Ohio agreement includes a $1.5 billion investment in SB Energy.

Making Nvidia Systems Easier To Finance

CEO Jensen Huang says many AI companies are growing faster than their balance sheets can support. Nvidia is therefore working with financial institutions to make its GPUs easier to finance as long-term assets.

Last week, the company signed a memorandum of understanding with Goldman Sachs, Apollo Global Management, Blackstone and BlackRock to develop financing for Nvidia systems.

The move could help maintain demand for Nvidia technology as rivals gain ground. Google has begun generating revenue from its TPU systems, while AMD reported more than 100% growth in its data-center business.

Competition Pushes Nvidia To Diversify

Increasing competition is putting pressure on Nvidia’s exceptionally high margins and encouraging it to expand beyond selling GPUs.

“Part of their thinking is, let’s broaden our reach,” said Paul Meeks of Freedom Capital Markets. “We just can’t ride this one horse, which is GPUs.”

Still, analysts say the company’s financial strategy reflects strong underlying demand for AI infrastructure. Anthropic said its annualized revenue run rate reached $65 billion in July, seven times higher than a year earlier, while OpenAI’s recently reached $40 billion.

For Nvidia, the AI advantage is increasingly about more than chips. Its ability to finance the infrastructure around them could become an equally important competitive edge.

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