Microsoft Backs Startup Focused on Making AI More Efficient

Touchcast Inc., a startup that caches frequently asked generative artificial intelligence queries to make AI systems more efficient, is raising $100 million from venture backers, including OpenAI investor Microsoft Corp.

New York-based Touchcast stores and serves up responses for commonly used AI prompts, reducing the computational resources and energy required for using models like OpenAI’s GPT-4. The aim is to help developers and businesses deploy generative AI more broadly with lower costs and faster response times.

The Accenture Plc-backed Touchcast will have a valuation of at least $350 million after the new funding, Chief Executive Officer Edo ...