Funding
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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