Spanish 'soonicorn' Multiverse Computing releases free compressed AI model | TechCrunch

TechCrunch

by Anna Heim

February 24, 2026

AI-Generated Deep Dive Summary

Multiverse Computing, a Spanish startup, has released a free version of its HyperNova 60B AI model on Hugging Face, showcasing its ability to compress large language models (LLMs) while maintaining high performance. The company’s CompactifAI technology, inspired by quantum computing principles, reduces the size and cost of deploying advanced AI models. At just 32GB, HyperNova 60B is nearly half the size of OpenAI’s gpt-oss-120b model, with lower memory usage and faster inference times. This innovation makes it more accessible for businesses to adopt cutting-edge AI without the financial burden of larger models. The updated HyperNova 60B 2602 version also enhances tool calling and agentic coding capabilities, addressing use cases where high inference costs can be a barrier. Multiverse positions itself as a competitor to Mistral AI, another European startup, by claiming its model outperforms Mistral’s Mistral Large 3. Both companies share similar goals of expanding globally and catering to enterprise customers, with Multiverse naming Iberdrola, Bosch, and the Bank of Canada as clients. Multiverse is on the cusp of significant growth, reportedly raising a new funding round of €500 million at a valuation exceeding €1.5 billion. If confirmed, this would solidify its position as one of Europe’s leading AI startups. The company also claims its annual recurring revenue (ARR) reached €100 million in January, positioning it alongside Mistral AI and other top-tier AI providers. While still a fraction of OpenAI’s $20 billion ARR, Multiverse’s growth reflects the rising demand for alternative, more affordable AI solutions. The startup emphasizes delivering “sovereign AI solutions,” aligning with growing geopolitical interests in reducing reliance on U.S.-dominated tech. This focus has earned Multiverse collaborations with regional governments, such as Aragón in northeastern Spain, and participation from the Basque Agency for Technological Transformation. These partnerships highlight the company’s role in advancing European AI independence and fostering innovation

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Originally published on TechCrunch on 2/24/2026