Latest news with #EnriqueLizasoOlmos
Yahoo
2 days ago
- Business
- Yahoo
Multiverse raises $215m to advance CompactifAI technology
Spanish quantum software startup Multiverse Computing has raised €189m ($215m) in a Series B funding round to advance its CompactifAI technology. CompactifAI, developed throughout 2024 and now rolled out to initial customers, can reduce the size of Large Language Models (LLMs) by up to 95% while preserving performance. The investment round was led by Bullhound Capital with participation from investors including HP Tech Ventures, SETT, Forgepoint Capital International, CDP Venture Capital and Santander Climate VC, as well as Quantonation, Toshiba, and Capital Riesgo de Euskadi - Grupo SPRI. Multiverse said it plans to leverage the funding to support broader adoption of CompactifAI, targeting the $106bn AI inference market. This technology is claimed to address the high costs of running LLMs, which typically require specialised cloud-based infrastructure. Multiverse Computing founder and CEO Enrique Lizaso Olmos said: 'With a unique syndicate of expert and strategic global investors on board and Bullhound Capital as lead investor, we can now further advance our laser-focused delivery of compressed AI models that offer outstanding performance with minimal infrastructure.' Unlike traditional compression methods such as quantisation and pruning, which often degrade model performance, CompactifAI maintains original accuracy, achieves 4x-12x faster processing, and cuts inference costs by 50%-80%, according to the company. CompactifAI enables compressed models to operate on cloud platforms, private data centres, or devices including PCs, phones, cars, drones, and Raspberry Pi. Compressed versions of Llama, DeepSeek, and Mistral models are available now, with more models expected soon. The technology leverages Tensor Networks, a quantum-inspired approach to neural network simplification, pioneered by Roman Orus, Multiverse's co-founder and chief scientific officer. Orus said: 'For the first time in history, we are able to profile the inner workings of a neural network to eliminate billions of spurious correlations to truly optimise all sorts of AI models.' At the end of 2024, Multiverse Computing received an investment from CDP Venture Capital, an Italian venture capital investor, as part of its Series A funding round. The investment was made through two compartments of the Corporate Partners I fund, ServiceTech and Energytech, which includes participation from major Italian corporations such as Baker Hughes, BNL BNP Paribas, Edison, GPI, Italgas, Snam, and Terna Forward. "Multiverse raises $215m to advance CompactifAI technology" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Time of India
2 days ago
- Business
- Time of India
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. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like What Happens When You Massage Baking Soda Into Your Scalp Read More Undo The latest funding round makes Multiverse the largest Spanish AI startup , joining the list of top European AI startups such as Mistral , Aleph Alpha, Synthesia, Poolside and Owkin. Multiverse has launched compressed versions of LLMs such as Meta's Llama, China's DeepSeek and France's Mistral, with additional models coming soon, the company said. Live Events "We are focused just on compressing the most used open-source LLMs, the ones that the companies are already using," Chief Executive Officer Enrique Lizaso Olmos said. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories "When you go to a corporation, most of them are using the Llama family of models." The tool is also available on Amazon Web Services AI marketplace.
Yahoo
2 days ago
- Business
- Yahoo
Spain's Multiverse raises $217 million for compressing AI models
PARIS (Reuters) -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 funding round makes Multiverse the largest Spanish AI startup, joining the list of top European AI startups such as Mistral, Aleph Alpha, Synthesia, Poolside and Owkin. Multiverse has launched compressed versions of LLMs such as Meta's Llama, China's DeepSeek and France's Mistral, with additional models coming soon, the company said. "We are focused just on compressing the most used open-source LLMs, the ones that the companies are already using," Chief Executive Officer Enrique Lizaso Olmos said. "When you go to a corporation, most of them are using the Llama family of models." The tool is also available on Amazon Web Services AI marketplace. ($1 = 0.8709 euros) Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Reuters
2 days ago
- Business
- Reuters
Spain's Multiverse raises $217 million for compressing AI models
PARIS, June 12 (Reuters) - Spanish AI firm Multiverse Computing said on Thursday it has raised 189 million euros ($217 million) from investment firm Bullhound Capital, HP Inc (HPQ.N), opens new tab, 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 funding round makes Multiverse the largest Spanish AI startup, joining the list of top European AI startups such as Mistral, Aleph Alpha, Synthesia, Poolside and Owkin. Multiverse has launched compressed versions of LLMs such as Meta's (META.O), opens new tab Llama, China's DeepSeek and France's Mistral, with additional models coming soon, the company said. "We are focused just on compressing the most used open-source LLMs, the ones that the companies are already using," Chief Executive Officer Enrique Lizaso Olmos said. "When you go to a corporation, most of them are using the Llama family of models." The tool is also available on Amazon (AMZN.O), opens new tab Web Services AI marketplace. ($1 = 0.8709 euros)
Yahoo
07-05-2025
- Business
- Yahoo
Multiverse Computing Named to the 2025 CB Insights' List of the 100 Most Innovative AI Startups
Multiverse Computing Quantum AI company recognized for providing AI model compression technology to solve real-world AI challenges CB Insights AI 100 2025 Source: CB Insights DONOSTIA, Spain, May 07, 2025 (GLOBE NEWSWIRE) -- Multiverse Computing , the leader in AI model compression, has been named to the 2025 CB Insights' List of the 100 Most Innovative AI Startups . The recognition highlights the company's breakthroughs at the intersection of quantum computing and AI, with a focus on cost-effective and energy-efficient solutions to optimize AI model processing. "The AI 100 winners are future movers and shakers, taking big swings that will shape the future of AI," said Manlio Carrelli, CEO at CB Insights. "This year's cohort is pushing AI applications from emerging to emerged, working on everything from AI agents for complex processes to security and robotics. They've also zeroed in on new and promising technologies that might not be on the radar of many enterprises – multi-agent systems, novel computing and data curation approaches, and physical AI." The transformative potential of artificial intelligence across virtually every industry is immense. This promise is underscored by a 2024 EY report concluding that AI-related companies had attracted a remarkable 37% of total venture capital activity in the last quarter of the year. AI models present significant challenges due to their substantial size, high computational costs, and considerable energy consumption. But common compression techniques often lead to a noticeable decline in accuracy and precision. Multiverse Computing pioneered a novel approach to compressing models using quantum-inspired tensor networks. Their proprietary compressor, CompactifAI , enables up to 93% size reduction without sacrificing original accuracy, dramatically reducing AI deployment costs and opening up a variety of new AI use cases. "As AI continues to proliferate, organizations across industries are looking for cost- and energy-efficient ways to implement AI models,' said Enrique Lizaso Olmos, founder and CEO of Multiverse Computing. 'CompactifAI is revolutionizing AI processing, and it's an honor from CB Insights to validate our efforts and impact on the AI industry.'
