Observed Signal · Feb 5, 2024 · Product Launch · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
AI Researcher Hochreiter Launches AI Startup NXAI with Pierer and Netural
Austrian AI pioneer Sepp Hochreiter is launching NXAI, a private research center for AI and product development in Linz, Austria, together with investor Stefan Pierer. Netural, led by Albert Ortig, and Pierer Digital Holding each hold 37 percent of NXAI GmbH, while Hochreiter holds 26 percent, giving him a blocking minority. The company, currently employing ten people, focuses on advancing xLSTM, a European large language model technology designed as a faster and more cost-efficient alternative to transformer-based models like ChatGPT. Industry rumors suggest funding of around 30 million euros. NXAI has also agreed a research cooperation with Johannes Kepler University (JKU). Hochreiter previously criticized Austria's public funding instruments as unsuitable for fast-moving AI research, motivating the private initiative.
Launch of a European private AI research center focused on xLSTM foundation model technology by renowned AI pioneer Sepp Hochreiter. Relevant to the AI/LLM infrastructure landscape but regional in scope and early-stage, limiting immediate AdTech impact.
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Key Takeaways & Evidence Grounding
- Sepp Hochreiter is founding NXAI, a private AI research and product development center in Linz, Austria.
- Netural and Pierer Digital Holding each hold 37% of NXAI GmbH, while Hochreiter holds 26%.
- NXAI focuses on developing the European large language model technology xLSTM.
- The startup is reportedly funded with around 30 million euros.
- NXAI has agreed a research cooperation with Johannes Kepler University (JKU).
Ontology Mapping & Concepts
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