AI Startup Engram Raises $98 Million on Tuesday to Cut AI Token Costs by Up to 100x

According to CNBC, AI memory startup Engram raised $98 million on Tuesday from investors including General Catalyst, Kleiner Perkins, Sequoia, and OpenAI co-founder Andrej Karpathy. The 8-month-old company claims its models can match or outperform frontier labs while using up to 100 times fewer tokens, the computational currency for running AI queries.

Engram's current client roster includes Microsoft, Notion, and legal AI startup Harvey. The startup plans to use the funding to support compute and talent expansion.

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