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Industrial Growth in Cyprus: February 2025 Sees a 4.3% Uptick

February 2025 marked another positive chapter for Cyprus’ industrial sector. The Industrial Turnover Index surged to 130.4 units, an impressive 4.3% increase from February 2024, using 2021 as the benchmark year.

Key Sector Performances

Analyzing data for the initial months of 2025, the index registered a 5.6% growth overall from the previous year. In the manufacturing sector, February showcased a rise to 132.6 units, climbing by 4.5%.

Notably, the mining and quarrying sector skyrocketed with a robust 11.9% growth year-on-year. Likewise, the electricity supply sector shone through with a 4.3% uptick in turnover.

Areas of Concern

Despite these gains, the water supply and materials recovery sector faced challenges, recording a 4.0% decline compared to February 2024. This setback highlights ongoing disparities within the industry’s various branches.

For a broader view on the evolving business landscape, explore The Cyprus Business Clubs Guide, Presented By Dream Play.

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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