The Council of Ministers has authorized the Ministry for Digital Transformation and the Civil Service to participate, through thea Spanish Society for Technological Transformation (SETT), in the Spanish Quantum Computing Software Company Multiverse Computing, with a public investment of 59.2 million euros.
With this operation, the Government advances in strategic autonomy by betting on a unique technology that reduces the size of the language models used by Artificial Intelligence (AI) by up to 97%, minimizing costs and energy consumption, and positioning Spain at the forefront of sustainable AI.
Founded in 2019 in San Sebastian, Multiverse Computing is today the largest quantum software company in Europe, with presence in Spain, Canada, United Kingdom, Italy, France and Germany. Its activity focuses on the development of energy-efficient AI solutions based on technologies inspired by quantum computing, which improve productivity in key sectors such as finance, energy, logistics, space, health and defense.
The large language models (LLMs), which are behind the most well-known chatbots, require hardware that raises costs and makes it difficult to implement them on devices other than large computers, for example smartphones, laptops or satellites.
Its solutions, protected by more than 140 patents, are based on a new technique of compression of these models: tensor networks, an approach inspired by quantum to simplify neural networks. Multiverse Computing technology enables 4 to 12 times faster AI and reduces costs by 50%, using a conversational language model so small that it could fit inside a fly’s brain.
Thus, its software not only also allows efficient AI in small devices such as smartphones or virtual reality glasses, but also maximizes the results of both current quantum devices and classic high-performance computers, in addition to being able to be used in already existing and popular programs. In addition, its unique software suite on the market is able to customize compacted models by adding or removing data without re-entering such models.
Multiverse Computing was selected in 2024 by the employers DIGITALEUROPE as the next European unicorn, with an estimated value of more than 1,000 million euros.
The operation will favor the expansion of its technology throughout America and Asia, strengthen research and investment in R&D, and will involve the creation of more than 300 direct high-skilled jobs and 1000 indirect jobs in San Sebastian, with a significant impact on the economic and technological fabric of both Spain and Europe.
Together with SETT, the company will expand its capital through a co-investment system that supports a public-private partnership model in strategic sectors such as advanced technologies. This operation is carried out through the Next Tech fund, whose objective is to encourage private investment and improve access to financing in strategic Spanish sectors such as disruptive technologies. The implementation of Next Tech, foreseen in the Recovery, Transformation and Resilience Plan, is among the functions of SETT, which, in addition, manages two more financial instruments to enhance the technological business ecosystem: PERTE Chip, dedicated to microelectronics and semiconductors, and Spain Audiovisual Hub, which promotes the digitalization of the audiovisual sector.