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One of the fastest-growing U.S. artificial intelligence companies is looking to set up shop in Cyprus, in a move that could boost the island's ambition to become a tech hub in the Eastern Mediterranean.
Tenstorrent, a Texas-based company known for designing specialized AI processors and software, plans to establish a regional office in Cyprus, aiming to tap into local talent and strengthen ties with nearby European and Middle Eastern markets.
In an exclusive interview with Kathimerini's Dorita Yiannakou, Chief Operating Officer Keith Witek said Cyprus offers a strategic location, access to skilled workers through universities and research centers, and the right momentum for tech investment. The company has already conducted two exploratory visits and plans a third on June 17-18 to finalize the office’s location.
Tenstorrent’s interest was made public during President Nicos Christodoulides' recent visit to Silicon Valley, where the Cypriot delegation, led by Chief Scientist Dimitris Skouridis, met with key tech and investment leaders.
Witek said Tenstorrent wants to help develop open and accessible technology through Cyprus, with applications in shipping, healthcare, and gaming. The company is aiming to build systems that improve safety, efficiency, and automation while steering away from monopolistic models that, he argued, drive up costs in the tech sector.
Founded in 2016, Tenstorrent is considered a serious competitor to AI giant Nvidia. It designs both AI hardware and the software tools that run it, with applications ranging from robotics to big data.
Witek believes Cyprus has the potential to become a regional leader, particularly in shipping and health technology, and even compared its future to that of Singapore or Israel if the country continues to work with innovative companies.
Still, the company is aware of challenges, particularly high energy costs, which Witek identified as a key concern.
Skouridis said Tenstorrent’s presence will be a "game changer" for the local ecosystem, boosting investor confidence and creating opportunities for partnerships with local tech talent, including efforts to bring back Cypriot professionals from abroad.
“This is a pivotal moment,” Skouridis said. “If Cyprus continues with targeted policies and remains open to international collaboration, it can claim its place on the global tech map.”
