I'm estimating a TFP model through HMC sampling and am looking to speed up the process. While there is probably a way to do this by changing the model code, I'm currently looking for a way to do this with minimal changes in the code by setting up a AWS/Azure/GCP compute instance with a lot of computing power.
I already set up an instance with 48 cores and 96GB RAM, but the increase in computation speed was not as much as I hoped for.
Does anyone have experience with the best way to do this? What kind of compute instance am I looking for, is it a GPU, or should I be using even more CPU kernels, etc.?
Many thanks in advance,