Espresso AI, a stealthy Silicon Valley artificial intelligence startup, has raised over $11 million in seed funding to bring the power of AI to perhaps the biggest challenge in enterprise computing today: reining in runaway cloud costs. The funding includes a seed round led by Daniel Gross and Nat Friedman, and a pre-seed round led by Matt Turck at FirstMark, with participation from industry leaders.

The company, which emerged from stealth today, has developed technology that uses advanced language models and machine learning to automatically optimize code and reduce cloud compute costs by up to 80%. Its initial product focuses on streamlining SQL queries for Snowflake, the popular cloud data warehousing platform.

Read the full VentureBeat article here.