Israeli AI Startup DoubleAI Launches Maxwell, Valued Over $1 Billion
Translated & summarized from Ice by baba
Israeli AI startup DoubleAI, founded by Professor Amnon Shashua, has launched its first commercial product, Maxwell, a system designed to optimize software performance and reduce computing costs. The technology has reportedly saved one client 67% on computing expenses. The company, valued at over $1 billion after raising $200-220 million, aims to monetize the system by charging a share of the savings it generates. Maxwell analyzes and optimizes code in real-time using formal verification methods, addressing the high costs of AI computing.
The story in 6 lines · by baba
- DoubleAI, founded by Professor Amnon Shashua, launched its AI product Maxwell, valued over $1 billion.
- Maxwell optimizes software performance in real-time to reduce high computing costs for AI technologies.
- The system has reportedly reduced a client's computing expenses by 67%.
- The company has raised $200-220 million from investors including Nvidia and Dell.
- DoubleAI employs approximately 40 people and was founded in August 2023.
- Maxwell uses formal verification to ensure code integrity during optimization.
Israeli startup DoubleAI, founded by Professor Amnon Shashua, has launched its first commercial product, Maxwell. This artificial intelligence system is designed to enhance software performance during operation, aiming to reduce the high computing costs associated with AI technologies. Shashua stated that the technology has already demonstrated significant savings for a client, reducing their computing expenses by 67%, according to an interview with The Wall Street Journal. Maxwell is now available for early access by developers, with the company planning a pricing model based on a share of the cost savings achieved. Unlike AI tools that assist in code writing, Maxwell analyzes software and hardware activity in real-time, identifies performance bottlenecks, and generates more efficient code versions without altering the original source code. The goal is to optimize the use of computing resources, particularly expensive GPUs used for AI tasks. DoubleAI categorizes its technology as Code Execution Models (CEMs), which learn software operation patterns and adapt processing to the hardware. The system uses formal verification methods based on mathematical proofs to ensure the new code maintains the original code's behavior and results. Founded in August 2023 by Shashua, who serves as CEO, along with Professor Shai Shalev-Shwartz and researchers the Researcher, Dr. Noam Weiss, Dr. Yoav Levin, and Dr. Or Sharir, DoubleAI employs about 40 people. The company has raised approximately $200-220 million since its inception, with its latest funding round valuing it at over $1 billion. Investors include Lightspeed, Bessemer, Nvidia, Dell Technologies Capital, Greenfield Partners, Pitango, and BRM. Concurrently, DoubleAI has been working on complex mathematical problems, recently reporting a solution to the longest path problem in graph theory with a computation cost under $2,000. The company now aims to apply its AI capabilities commercially amidst growing demand for computing power and high operational costs for AI systems.
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