BPV Huegel has advised AI researcher Josef Hochreiter on founding the NXAI company together with Netural X and the Pierer Digital Holding. Oberhammer Rechtsanwaelte reportedly advised the other JV partners.
Among the partners, Pierer Digital holds 37% of the new company, with Netural X holding an equal share and Josef Hochreiter controlling 26% of the shares.
According to the firm, NXAI will "drive the development and promotion of cutting-edge European AI research and innovative AI solutions at the highest level for the international market. NXAI is focusing on the potentially groundbreaking European Large Language Model technology xLSTM."
According to NXAI, a research cooperation protocol has also been established "between JKU Linz (Johannes Kepler University) and NXAI to take the existing insights around xLSTM to market readiness and to further strengthen Middle European research [...] To ensure this, NXAI combines a triad of AI cutting-edge research, digital product know-how, and industry expertise, aiming at a close integration of science and business."
Josef "Sepp" Hochreiter is the Director of the University Institute for Machine Learning and Head of the Artificial Intelligence Laboratory at the Linz Institute of Technology.
The BPV Huegel team was led by Co-Managing-Partner Florian Neumayr and Partner Stefan Gaug.