Toronto’s CentML, a promising AI startup, announced today that it secured $37 million in additional funding. The funds will be used to enhance product development and expand their team.
The company focuses on addressing challenges posed by rising machine learning costs and the AI chip shortage. CentML’s optimization technology can reduce AI model expenses by up to 80% without sacrificing speed or accuracy.
The startup’s approach includes identifying bottlenecks in model training, predicting deployment costs, and providing an efficient compiler. This innovation is timely, as AI-focused chip spending is expected to double in the next four years.
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