Breaking news

Emirates Airline Financially Robust, IPO in Government’s Hands

Emirates Airline has announced its satisfaction with current cash reserves, according to Chairman Sheikh Ahmed bin Saeed Al Maktoum. At this week’s Arab Travel Market conference in Dubai, Al Maktoum indicated that the potential listing of the company via an initial public offering (IPO) hinges on government approval.

Abu Dhabi’s Etihad Airways also opined on their IPO readiness, with CEO Antonoaldo Neves citing that any IPO launch remains a decision for shareholders. February saw discussions about announcing an Etihad IPO potentially valued at $1 billion.

On the fleet expansion front, Emirates will be receiving pre-ordered Boeing aircraft in the second quarter of 2025, stemming from a significant order placed in November 2023 for 55 additional 777-9s and 35 777-8s. This order boosts their 777-X model orders to a total of 205 units.

With ongoing developments, Cyprus remains a pivotal region for real estate, evidenced by March’s 5.6% upsurge in retail trade turnover, signifying a resilient market landscape.

Mirendil Signs $100 Million Google Cloud Deal To Advance Self-Improving AI

AI startup Mirendil has signed a multi-year agreement worth more than $100 million with Google Cloud to secure computing infrastructure for its self-improving AI research.

The partnership reflects growing competition among AI companies to lock in access to high-performance computing, while cloud providers race to attract promising startups developing next-generation AI models.

Backing The Next Stage Of AI Research

Mirendil plans to use Google’s Tensor Processing Units (TPUs), Nvidia GPUs and managed training infrastructure to develop AI systems capable of improving their own performance over time.

Known as recursive self-improvement, the concept focuses on building AI that can refine its knowledge and capabilities with minimal human intervention. The technology is attracting growing interest across the industry, with several startups and leading AI labs exploring similar approaches.

According to co-founder and Chief Executive Behnam Neyshabur, the long-term goal is to develop AI that can automate scientific research and accelerate discoveries in fields such as medicine, biology and materials science.

Compute Capacity Becomes A Strategic Asset

Training increasingly advanced AI models requires enormous computing resources, making long-term infrastructure agreements a critical competitive advantage.

Mirendil said Google’s combination of TPUs and GPUs allows workloads to be matched with the most suitable hardware, improving efficiency while reducing costs for customers.

For Google Cloud, the agreement strengthens its position in the race to provide infrastructure for frontier AI developers, while giving the company exposure to one of the industry’s emerging approaches to next-generation artificial intelligence.

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