Breaking news

Perplexity CEO: AI Success Depends On Energy Efficiency

Perplexity CEO Aravind Srinivas said AI companies that generate the most economic value from the least amount of computing power will be best positioned to succeed as competition intensifies across the sector. Speaking to CNBC’s Elaine Yu, Srinivas argued that maximizing “token value per watt per user” will become a key metric for evaluating AI businesses.

Balancing Accuracy, Latency, Cost And Privacy

Srinivas explained that every AI token, the basic unit of data processed by a model, consumes energy. Companies that can optimize the relationship between energy use and economic output, he said, will have a significant advantage. “Whoever is able to maximize this particular objective by balancing accuracy, latency, cost, privacy and intelligence really will win in the long term,” Srinivas said. His comments reflect a growing focus within the AI industry on efficiency as companies face rising infrastructure and computing costs.

Advancing Agentic AI With A Platform-Agnostic Approach

Perplexity continues to expand its work in agentic AI, systems designed to complete complex tasks rather than respond to individual prompts. In February, the company introduced Perplexity Computer, an AI agent capable of handling multi-step tasks over extended periods. While Perplexity develops its own models, its products also incorporate technology from companies including Anthropic.

The company recently launched Personal Computer, an orchestration layer that routes queries to the most appropriate processing resource. Srinivas described the shift as a move toward bringing more AI capabilities directly onto personal devices rather than relying exclusively on centralized data centres. According to Srinivas, this approach can reduce energy consumption while improving privacy and security.

Integration Across Leading Platforms And Growing Competition

Personal Computer is currently available on Apple’s Mac devices and is expected to expand to Microsoft’s Windows platform. The system is designed to work across applications, including Word and Outlook. The strategy also differentiates Perplexity from competitors such as OpenAI, Anthropic and Google, which are building increasingly integrated AI ecosystems around their own models and platforms.

Despite rapid growth among rivals, Srinivas said Perplexity’s focus remains on creating a system that works across different models, chips and operating systems. “We believe we’re building the most versatile operating system by making it work across different models, chips, and operating systems,” he said.

Future Outlook: Sustainable And Enduring Advantage

Perplexity’s approach allows the company to incorporate advances from multiple AI providers rather than relying on a single model ecosystem. The strategy has coincided with strong business growth. According to Srinivas, the company’s annualized revenue has tripled since the beginning of the year. As competition intensifies across the AI sector, efficiency, infrastructure costs and cross-platform integration are becoming increasingly important factors for companies seeking to scale their products and services.

Cyprus Parliament Approves New Business Development Agency

Parliament Approves Cyprus Business Development Agency

Cyprus’ House of Representatives unanimously approved legislation on Tuesday establishing the Cyprus Business Development Agency (KOAE), following the adoption of several amendments proposed by lawmakers.

The agency is intended to improve access to finance for small and medium-sized enterprises, startups and self-employed professionals, helping address longstanding funding gaps in the market.

Approval of the legislation also enables the government to unlock between €50 million and €69 million from the Recovery and Resilience Fund.

What Changes

One of the key amendments, jointly proposed by DISY, DIKO and the ALMA movement, requires the criteria governing the agency’s maximum financing exposure, including lending to connected enterprises, to be set through regulations approved by Parliament.

The amendment strengthens parliamentary oversight while providing a clearer governance framework for the agency.

Parliament Backs Bill After Debate

Although the bill received unanimous support, several MPs criticised the government for submitting it only on June 25, leaving Parliament with limited time to examine the legislation.

DISY MP Savia Orphanidou said lawmakers had completed their review in the national interest, stressing that easier access to finance is essential for the sustainability of businesses. She also welcomed safeguards added during parliamentary scrutiny, including the planned €60 million capital allocation through 2030.

AKEL MP Andreas Pasiourtidis said the agency should prioritise very small businesses and welcomed provisions strengthening board governance, annual reporting to Parliament and disclosure requirements relating to politically exposed persons.

DIKO MP and House Finance Committee Chair Christiana Erotokritou said similar institutions have operated successfully in other countries for years, adding that the legislation now includes modern safeguards to ensure responsible use of public funds.

Meanwhile, Giannis Laouris of Direct Democracy noted that Cyprus is the only EU member state without a dedicated institution supporting small businesses. He warned that failure to pass the bill would have put between €50 million and €69 million in Recovery and Resilience funding at risk, while maintaining reservations about establishing KOAE as a semi-state organisation.

Why It Matters

The new agency is expected to expand financing options for businesses that often struggle to secure bank financing due to limited collateral or short credit histories.

If implemented effectively, KOAE could strengthen Cyprus’ SME ecosystem, improve access to capital for startups and self-employed professionals, and help convert Recovery and Resilience funding into long-term economic growth.

Uol
eCredo
Aretilaw firm
The Future Forbes Realty Global Properties

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter