TECH - Microsoft To Fund Startup That Enhances AI Deployment | Benzinga
Touchcast Inc., a startup specializing in caching generative artificial intelligence queries, is set to raise $100 million from venture backers, including Microsoft Corp (NASDAQ:MSFT), an investor in OpenAI.
The New York-based company stores and delivers responses for frequently used AI prompts, aiming to reduce computational and energy requirements for models like OpenAI's GPT-4.
The initiative seeks to lower costs and enhance deployment efficiency for developers and businesses, according to a report from Bloomberg.
Accenture Plc (NYSE:ACN) backed Touchcast is expected to reach a valuation of at least $350 million after the new funding, according to CEO Edo Segal.
While details ...