Large language models have the problem of large size. Spanish startup Multiverse Computing is tackling this problem with a compressed model that aims to bridge the gap between what frontier models can do and what companies can actually deploy.
The secret sauce is CompactifAI, a compression technology inspired by quantum computing that Basque’s company applied to models released by OpenAI. Developers can now access a new version of Multiverse’s HyperNova 60B model for free through Hugging Face. The company also plans to open source a more compressed model in 2026 to support a broader range of use cases.
Multiverse says its model is smaller but nearly as powerful and accurate. At 32 GB, the HyperNova 60B is about half the size of OpenAI’s gpt-oss-120b from which it is derived, yet boasts lower memory usage and latency. The updated version, called HyperNova 60B 2602, also improves support for tool calls and agent coding, which can have high inference costs.
One of the competitors that Multiverse claims to beat with the HyperNova 60B is the Mistral Large 3, a model released by French decacorn company Mistral AI. But beyond the technological competition, the two European AI companies also have a lot in common.
Like Mistral, Multiverse has also expanded beyond its home country, with offices throughout the United States, Canada, and Europe. Both companies also have corporate customers. In the case of Multiverse, names include Iberdrola, Bosch, and Bank of Canada.
And while Multiverse isn’t officially a unicorn yet, it’s rumored to be raising a new €500 million funding round at a valuation of more than €1.5 billion. In a statement shared with TechCrunch, the company confirmed that active discussions are underway with potential investors for a new funding round, but added that it is premature to comment on valuation or funding size at this stage. Multiverse also declined to comment on reports that annual recurring revenue (ARR) reached 100 million euros in January.
If confirmed, this would be just a fraction of OpenAI’s $20 billion ARR. However, Mistral’s ARR has soared to more than $400 million, which is not far off, due in part to growing demand for alternatives to the U.S. technology. Similarly, Multiverse positions itself in its latest press release as a company “capable of delivering sovereign solutions across the AI stack.”
tech crunch event
boston, massachusetts
|
June 9, 2026
These geopolitical backgrounds recently helped Multiverse secure cooperation with the government of Aragon in northeastern Spain. The Spanish Agency for Technology and Innovation (SETT) also participated in the AI startup’s $215 million Series B last year. Multiverse has also benefited from support from the Basque Country since its founding, and could soon see its first unicorn.
