Spain’s Multiverse raises $217 million for compressing AI models

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Spanish AI firm Multiverse Computing said on Thursday it has raised 189 million euros ($217 million) from investment firm Bullhound Capital, HP Inc, Forgepoint Capital and Toshiba, to compress AI language models.

The company said it has developed a compression technology capable of reducing the size of large language models (LLMs) by up to 95% without hurting performance and reducing costs by up to 80%.

It combines ideas from quantum physics and machine learning in ways that mimic quantum systems but doesn’t need a quantum computer.

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Spain’s Multiverse raises $217 million for compressing AI models


Spanish AI firm Multiverse Computing said on Thursday it has raised 189 million euros ($217 million) from investment firm Bullhound Capital, HP Inc, Forgepoint Capital and Toshiba, to compress AI language models.

The company said it has developed a compression technology capable of reducing the size of large language models (LLMs) by up to 95% without hurting performance and reducing costs by up to 80%.

It combines ideas from quantum physics and machine learning in ways that mimic quantum systems but doesn’t need a quantum computer.

The latest…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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