What is the reason for the creation of LLVM?

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What are the differences between an LLVM and a regular compiler?
Is it more dynamic and thus can be used to compile normally very dynamic languages (i.e. Javascript) into static binary code? What are the principles behind creating one?
I know the Dragon Book for compilers, but is there such a thing for a LLVM?

EDIT: I have found this interesting project.

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