Spain Bets Big on AI Compression Tech with €67M Investment
Summary
Spain takes a bold step in AI innovation, investing €67M in Multiverse Computing to acquire a stake in the company's groundbreaking AI compression technology that shrinks models by 90% while preserving performance, paving the way for cost-effective and sustainable AI adoption across industries.
Key Points
- The Spanish government will invest €67 million to become a shareholder in Multiverse Computing, a company that develops AI compression software
- New grants totaling over €200 million were announced to help Spanish companies incorporate AI into their value chains
- Multiverse Computing's software allows AI models to be compressed to 10% of their original size while maintaining performance, reducing costs and environmental impact