Abstract: To parameter-efficiently fine-tune (PEFT) large language models (LLMs), the low-rank adaptation (LoRA) method approximates the model changes $\Delta W \in \mathbb{R}^{m \times n}$ through the product of two matrices $A \in \mathbb{R}^{m \times r}$ and $B \in \mathbb{R}^{r \times n}$, where $r \ll \min(m, n)$, $A$ is initialized with Gaussian noise, and $B$ with zeros. LoRA **freezes the original model $W$** and **updates the "Noise \& Zero" adapter**, which may lead to slow convergence. To overcome this limitation, we introduce **P**r**i**ncipal **S**ingular values and **S**ingular vectors **A**daptation (PiSSA). PiSSA shares the same architecture as LoRA, but initializes the adaptor matrices $A$ and $B$ with the principal components of the original matrix $W$, and put the remaining components into a residual matrix $W^{res} \in \mathbb{R}^{m \times n}$ which is frozen during fine-tuning.Compared to LoRA, PiSSA **updates the principal components** while **freezing the "residual" parts**, allowing faster convergence and enhanced performance. Comparative experiments of PiSSA and LoRA across 11 different models, ranging from 184M to 70B, encompassing 5 NLG and 8 NLU tasks, reveal that PiSSA consistently outperforms LoRA under identical experimental setups. On the GSM8K benchmark, Gemma-7B fine-tuned with PiSSA achieves an accuracy of 77.7\%, surpassing LoRA's 74.53\% by 3.25\%. Due to the same architecture, PiSSA is also compatible with quantization to further reduce the memory requirement of fine-tuning. Compared to QLoRA, QPiSSA (PiSSA with 4-bit quantization) exhibits smaller quantization errors in the initial stages. Fine-tuning LLaMA-3-70B on GSM8K, QPiSSA attains an accuracy of 86.05\%, exceeding the performances of QLoRA at 81.73\%. Leveraging a fast SVD technique, PiSSA can be initialized in only a few seconds, presenting a negligible cost for transitioning from LoRA to PiSSA.