Observed Signal · Jul 10, 2024 · Product Launch · Source: Trending Topics · Impact: 2/5 · Sentiment: Positive
NXAI plans competitive AI model launch this year
NXAI, a Linz, Austria-based AI startup founded in December 2023 by CEO Albert Ortig and Chief Scientist Sepp Hochreiter, is developing xLSTM, an alternative to the Transformer architecture that powers most current large language models. In an interview with Trending Topics, Ortig says xLSTM offers linear efficiency scaling and large context windows, making it suitable for edge AI applications in factories, vehicles, and aircraft. NXAI has already trained a 1.3-billion-parameter model and plans to release at least a 7-billion-parameter competitive model by the end of 2024. The company started with double-digit million-euro pre-seed funding, which Ortig says exceeds most Series A rounds, and is planning a larger funding round. It currently employs around 15 people, with plans to grow to 30 by year-end. NXAI also works on AI4Simulation with researcher Johannes Brandstetter.
NXAI, a European startup, is developing xLSTM as a potential alternative to Transformer-based LLMs with efficiency benefits for edge AI; however, no competitive model has been released yet, and direct AdTech applications are not specified.
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Key Takeaways & Evidence Grounding
- NXAI was founded in December 2023 in Linz, Austria, by CEO Albert Ortig and Chief Scientist Sepp Hochreiter.
- NXAI is developing xLSTM as an alternative to the Transformer architecture for large language models.
- The company has trained a 1.3-billion-parameter model and plans to release at least a 7-billion-parameter competitive model by the end of 2024.
- NXAI's pre-seed round is in the double-digit millions and is described as larger than most Series A rounds.
- NXAI currently has around 15 employees and plans to grow to 30 by the end of the year.
- NXAI is also working on AI4Simulation, focusing on particle and fluid dynamics simulations.
Connected Companies & Entities
11 Entities mapped“Das war bei Storyblok so, das war bei Roomle so....”
“Wir haben eigentlich mit dem Start von OpenAI genauso wie der Rest der Welt unsere Heureka-Erlebnisse gehabt....”
“Also OpenAI, Anthropic, Mistral, aber ihr nicht....”
“Mistral AI in Paris, die haben mittlerweile eine Bewertung von 6 Milliarden Euro und nicht mal 50 Mitarbeiter....”
“Transformer ist jene Google-Technologie, die heute alle bekannten AI-Modelle wie GPT-4, Claude-3 oder Gemini 1.5 antreibt....”
“Das leistet sich Apple und das leistet sich Meta....”
“Das leistet sich Apple und das leistet sich Meta....”
“da gibt es natürlich ein paar Player wie Silo AI, Mistral AI oder Aleph Alpha....”
“Kaufen tut man die normalerweise gar nicht, aus zweierlei Gründen: ... diese GPU-Rechner von NVIDIA....”
“Unser Johannes Brandstetter war einer derjenigen, der dieses neue Wettermodell von Microsoft in Amsterdam entwickelt hat....”
“da gibt es natürlich ein paar Player wie Silo AI, Mistral AI oder Aleph Alpha....”
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