Multiverse Computing, a Spanish technology company, has raised US$570m in its third major external funding round.
The investment gives the company a pre-money valuation of US$1.7bn, pushing it into unicorn territory, with the latest valuation being five times higher than its previous investment round.
The company says this growth has been driven partly by demonstrating that powerful AI models can maintain full performance while running on devices such as smartphones, as well as in sovereign data centres and industrial environments without a cloud connection.
How Multiverse is shrinking AI models
At the heart of the company’s approach is CompactifAI, a compression technology developed by Co-Founder and Chief Scientific Officer Dr Román Orús.
The platform uses tensor networks, a mathematical framework originating in quantum physics, to identify redundant patterns within AI models.
By removing that redundancy, Multiverse can reduce the size of models so they require less computing power to run.
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