It promises much faster inference with much lower compute costs, and I think up to 7B params, performs on par with transformers. I've yet to see a 40B+ model trained.
The researches of MAMBA went on to start a company called Cartesia [3], which is MAMBA applied to voice models
[1] https://jackcook.com/2024/02/23/mamba.html
[2] https://www.csd.uwo.ca/~mmorenom/HPC-Slides/Parallel_prefix_... <- Pulled up a random example from google, but Stanford CS149 has an entire lecture devoted to parallel scan.