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Spain’s Multiverse Raises $217 Million to Compress AI Language Models

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Spanish artificial intelligence startup Multiverse Computing announced it has secured €189 million ($217 million) in funding from Bullhound Capital, HP Inc, Forgepoint Capital, and Toshiba to advance its technology for compressing AI language models.

Multiverse has developed a compression technology that can reduce the size of large language models (LLMs) by up to 95% without sacrificing performance, enabling cost reductions of up to 80%. The method blends concepts from quantum physics and machine learning to emulate quantum systems but does not require a quantum computer.

This recent funding round positions Multiverse as the largest AI startup in Spain and places it among leading European AI companies such as Mistral, Aleph Alpha, Synthesia, Poolside, and Owkin.

Multiverse has already released compressed versions of popular LLMs, including Meta’s Llama, China’s DeepSeek, and France’s Mistral, with plans to expand its model offerings. CEO Enrique Lizaso Olmos highlighted the focus on compressing widely used open-source LLMs, noting that many corporations currently rely on the Llama model family.

The compressed AI models are also available through Amazon Web Services’ AI marketplace, facilitating broader industry adoption.

Oracle Boosts Annual Revenue Forecast Amid Strong Cloud Demand, Shares Surge

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Oracle raised its annual revenue growth forecast on Wednesday, driven by strong demand for its cloud services, particularly as businesses ramp up AI deployments. The company now expects fiscal 2026 revenue to reach at least $67 billion, up from its previous projection.

CEO Safra Catz revealed on a post-earnings call that Oracle anticipates its total cloud growth — including applications and infrastructure — to jump from 24% in fiscal 2025 to over 40% in fiscal 2026.

Oracle’s growth momentum is mainly fueled by its Oracle Cloud Infrastructure (OCI) platform and its support for AI workloads. Industry experts note that Oracle’s multi-cloud strategy and deep integration with enterprise applications have made OCI a critical component for many customers’ data needs.

Rebecca Wettemann, CEO of analyst firm Valoir, highlighted Oracle’s ability to embed generative AI capabilities into its cloud application suite without additional costs as a key factor reducing adoption barriers and encouraging experimentation.

For the quarter ending May 31, Oracle reported revenue of $15.90 billion, surpassing analysts’ expectations of $15.59 billion. The cloud services and license support segment, Oracle’s largest, posted $11.70 billion in revenue, up 14% year-over-year.

Adjusted earnings per share were $1.70, beating estimates of $1.64.

IonQ to Acquire Oxford Ionics for $1.08 Billion to Boost Quantum Computing Research

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U.S.-based quantum computing company IonQ announced on Monday that it will acquire British peer Oxford Ionics for $1.08 billion in a cash-and-stock deal, aiming to strengthen its expertise in the rapidly growing quantum technology sector. IonQ’s shares rose nearly 4% in premarket trading following the announcement, with the company’s market valuation standing at $10.15 billion as of the last close.

Quantum computing, which leverages quantum bits or qubits to perform complex calculations faster and more efficiently than classical computers, has attracted significant investments from tech giants like Microsoft, Google, and IBM. Oxford Ionics specializes in innovative methods to control qubits, a critical focus area in advancing quantum computer performance.

The founders of Oxford Ionics, Chris Balance and Tom Harty, who are also researchers, will continue to work with IonQ after the acquisition closes. The transaction price per share will be set between $30.22 and $50.37 based on IonQ’s stock price in the 20 days preceding deal closure, expected within this year.

Although revenues remain modest for quantum computing companies including IonQ and competitor Rigetti, the technology is viewed as vital for national security and has promising applications in fields such as medical research and cybersecurity.

IonQ has actively expanded its capabilities through acquisitions, including last year’s purchase of Boston startup Lightsynq, which focuses on quantum memory. Meanwhile, Nvidia’s CEO Jensen Huang announced plans to open a quantum computing research lab, signaling growing industry momentum, despite some skepticism about when the technology will be practically applicable.