Cyprus has now been recognised internationally as a promising and dynamically developing regional technology hub, as proven by the arrival on the island of significant companies in the sector, following a series of meetings that President Christodoulides had with their leaders in Silicon Valley.
After all, technology, which contributes a total of over 14% to the country's GDP, is evolving into one of the main pillars of the Cypriot economy. Strategic agreements with American giants such as NVIDIA, Tenstorrent and Plug and Play are bringing a fresh dynamic to our country and shaping its new technological footprint.
NVIDIA
In a strategic partnership with NVIDIA, the $4.4 trillion American giant, Cyprus will acquire an upgraded national high-performance computing (HPC) infrastructure, the so-called supercomputer, filling the gap in national computing capabilities.
Essentially, the country is acquiring an acceleration tool for artificial intelligence and simulation applications that until now either could not run or had to locate computing power abroad, according to John Josephakis, Global Vice President of High Performance Computing, AI and Supercomputing at NVIDIA. This infrastructure, which is expected to be put into production operation in June 2026, will be open to the entire ecosystem - universities, research centres, the government and businesses - and will support the development of artificial intelligence, clean energy, climate science, natural disaster prevention, biomedicine and bioinformatics.
The supercomputer will be housed in the space that already hosts the existing high-performance infrastructure of the Cyprus Institute and the National Competence Centre in Cyprus. NVIDIA will also contribute to its use by transferring know-how and training researchers and specialised personnel. The company plays a key role worldwide in HPC infrastructure, AI data centre solutions, and artificial intelligence development platforms.
Plug and Play Tech Center
In January 2026, Plug and Play, a leading global innovation organisation and start-up accelerator based in Silicon Valley, marked its expansion into Cyprus, following our country’s decision to establish an innovation centre later this year. The centre aims to support start-ups, connect research and the market, and facilitate start-ups’ access to international networks and investors. The start was made in March 2025, when company executives visited Cyprus following a meeting between President Christodoulides and its Founder and CEO, Saeed Amidi.
Their goal is to examine the prospect of opening an office and investing in the country. In the process, the Council of Ministers on 23 December, 2025 approved the relevant framework for supporting an innovation centre with measurable goals and a specific time horizon, which was undertaken by the American giant. The Plug and Play innovation platform that connects the best start-ups with the largest organisations and transfers the benefits of Silicon Valley to every corner of the world, with a presence in 60 locations internationally, is already looking for staff in our country.
Tenstorrent
The decision of Tenstorrent, one of the fastest-growing American artificial intelligence companies, to expand its activities in the Cypriot market comes to strengthen the country's position as a regional technology hub in the Eastern Mediterranean, creating, among other things, new, high-quality jobs.
The company, as the first to offer an artificial intelligence chip to be installed on the island, has already opened an office in Cyprus and is in the process of recruiting staff after signing a strategic memorandum of cooperation with the Research and Innovation Foundation last October. It all started after the visit of the President of the Republic Nikos Christodoulides to Silicon Valley in the spring of 2025, where, after a meeting with the company's CEO Jim Keller - one of the most important microprocessor engineers in the world with experience in companies such as Apple, AMD, Intel and Tesla -, the latter announced Tenstorrent's intention to open an office in Cyprus. It is a technology company founded in Canada and based in the US, with local offices in Austin and Silicon Valley, which focuses on the development of high-performance processors for artificial intelligence (AI) applications. It is considered NVIDIA's rival in the field of artificial intelligence and was founded in 2016 by Ljubisa Bajic, Ivan Hamer and Milos Trajkovic.
*The text is part of a series of topics from the cover story of the April edition of IN Business magazine, which is dedicated to the large foreign investments of recent years in Cyprus and which have changed the business landscape. Editorial team: Maria Michael, Emily Antoniou, Dora Pamboulou, Nicolas Prodromou.
