7/103 sources · 3 publishersUpdated Oct 19, 16:44 UTC
Nvidia secures AI startup Modal as its first Vera central‑processor customer
Modal, the AI‑cloud provider valued at $15.75 billion, announced it will start running Nvidia's Vera central processor for AI‑agent workloads while keeping Intel and AMD chips in a mixed fleet. The startup said early tests showed Vera doubled the work output of its agents. Nvidia told investors it is targeting at least $20 billion in Vera chip revenue this fiscal year.
Why it matters
The deal gives Nvidia its first high‑profile customer in the central‑processor market, potentially expanding Vera sales toward the $20 billion goal. Modal’s adoption may pressure Intel and AMD as they compete for the same AI‑agent workloads.
Key facts
- 1Modal raised $750 million in a financing round led by Accel, valuing the company at $15.75 billion. marketscreener.com
- 2Modal plans to deploy Nvidia's Vera central processor for hosting AI agents. marketscreener.com
- 3Modal reported that usage of its services has tripled and revenue grew more than 15 times year‑over‑year. marketscreener.com
- 4Modal expects to generate $1 billion in sales over the next year. marketscreener.com
- 5Early testing showed Vera doubled the amount of work AI agents could complete compared with Intel and AMD chips. marketscreener.com
- 6Nvidia projects Vera chip sales of at least $20 billion this fiscal year. marketscreener.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.