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US Tech Company Tenstorrent Takes First Step Toward Cyprus Expansion

Global AI chipmaker Tenstorrent took its first concrete step toward establishing a presence in Cyprus during a strategic visit hosted by the office of the Chief Scientist for Research, Innovation and Technology.

According to an announcement released on Tuesday, the high-level delegation marked the company’s initial direct engagement with Cyprus’ innovation ecosystem, following a meeting in California between President Nikos Christodoulides and Tenstorrent CEO Jim Keller.

Leading the delegation were Eric Duffy, Senior Director of Business Development, and Isaac Salameh, Senior Director of Corporate Development at Tenstorrent.

The announcement mentioned that the visit reflects “Cyprus’ ambition to become a regional hub for advanced technology and research“.

MOREOVER, it pointed out that Tenstorrent is recognised for its open-source hardware design approach, which differentiates it from competitors.

This approach has the potential to support Cyprus’s long-term strategy to adopt an AI-first policy after 2028.

FOUNDATION FOR COLLABORATION

Chief Scientist Demetris Skourides described the visit as a “first snapshot” of collaboration, laying the foundation for what could become a meaningful and executable partnership.

“This visit confirms that strategic partnerships demand more than vision—they require commitment and execution,” Skourides said.

“Tenstorrent’s decision to engage directly with our ecosystem is not only a statement of intent, but the laying of a foundation to realise a joint ambition,” he added.

The visit began with a meeting at the Presidential Palace, hosted by Deputy Minister to the President Irene Piki.

Also present were Deputy Minister of Research, Innovation and Digital Policy Nicodemos Damianou, Chief Scientist Demetris Skourides, and Chairman of Invest Cyprus, Evgenios Evgeniou.

During the meeting, the announcement mentioned, Duffy acknowledged the strong level of research excellence in Cyprus.

He confirmed that Tenstorrent executives and engineering teams would return in the coming weeks.

The programme was curated and led by the Chief Scientist’s office in close collaboration with the Deputy Ministry of Research, Innovation and Digital Policy.

The office explained that the agenda was tailored to Tenstorrent’s interests and aimed at identifying and engaging with Cyprus’ talent base and research capacity.

The visit offered Tenstorrent an in-depth view of ongoing research in fields such as hardware, systems design, robotics, autonomous technologies, AI, and digital twins.

The delegation held meetings with the University of Cyprus, the Cyprus University of Technology, and Centres of Excellence, including KIOS, CYENS, and CMMI.

These meetings focused on key industries and sectors relevant to the company’s mission.

MOREOVER, Tenstorrent’s team engaged with academic leadership, heads of engineering schools, and engineers showcasing products, solutions, and digital twins developed locally.

The delegation also met the Nicosia mayor, Charalambos Prountzos. According to the announcement, Prountzos shared his vision for the digital transformation of the city and expressed interest in applying AI to improve services for citizens.

Another key meeting took place with Invest Cyprus CEO Marios Tannousis, whose support was described as “instrumental in shaping the visit”.

The announcement also mentioned that this engagement aligns with Cyprus’ national Vision 2035 strategy, which focuses on sustainable economic growth through innovation and technology.

This strategy includes targeted efforts to attract highly skilled Cypriots back to the country, known as “brain gain”.

It also prioritises investment in research excellence, ecosystem development, and international partnerships.

“Tenstorrent is at the forefront of AI,” said Deputy Minister Damianou.

“Opening an office in Cyprus will create new jobs for local talent and attract highly skilled Cypriots from abroad,” he added.

Skourides, who also chairs the National AI Task Force, said Cyprus is building an AI future through partnerships and government initiatives.

“We are focused on leveraging AI factories and building strategic infrastructure through partnerships and government initiatives that accelerate R&D and innovation, invest in human capital, govern and leverage data effectively, and create an operational framework that supports integration and execution,” he said.

“This can only be achieved by cultivating an ecosystem that connects innovators, builders, orchestrators, and consumers—while also introducing sovereign AI capabilities,” he added.

Skourides also said that “Tenstorrent opening an office in Cyprus will be a game changer for both research organisations and industry”.

Airbnb Unveils Reserve Now, Pay Later Option For U.S. Guests

Introduction

Airbnb has introduced an innovative payment solution designed to enhance user flexibility for U.S. travellers. The new “Reserve Now, Pay Later” feature enables users to secure a booking without an upfront payment, offering a streamlined cancellation process should plans change.

Flexible Payment Terms

This new option applies to listings that feature either flexible or moderate cancellation policies. Under a flexible policy, guests can cancel their reservation up to 24 hours before check-in, while a moderate policy offers no-fee cancellations until five days prior to arrival.

Payment Timing and Reminders

Regardless of the cancellation window, guests are obligated to complete the full payment before the expiration of the free cancellation period. Airbnb ensures a smooth experience by sending timely payment reminders to avoid any last-minute issues.

Evolution of Airbnb’s Payment Solutions

This initiative builds on Airbnb’s previous forays into flexible payment structures. In 2018, the company offered a partial upfront payment model, and more recently, a collaboration with Klarna enabled guests to pay in four installments over six weeks. Such strategic advancements demonstrate Airbnb’s commitment to adapting and refining its payment solutions to meet evolving consumer demands.

Consumer Insight Driving Innovation

Airbnb’s decision to launch the “Reserve Now, Pay Later” feature reflects robust consumer demand, with recent surveys indicating that 55% of respondents prefer flexible payment options. Additionally, 42% noted missed opportunities due to payment complexities when coordinating with travel companions, underlining the need for simplified financial arrangements.

Conclusion

By enhancing payment flexibility, Airbnb not only broadens its appeal but also addresses critical customer pain points, reinforcing its position as a leader in the evolving travel market. This initiative exemplifies how strategic innovation can drive customer satisfaction in an increasingly competitive landscape.

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