News Summary

• Modal, a cloud-computing startup that rents out computing power to AI developers, said it plans to start using Nvidia's new Vera central processor for the first time.
• Until now, Modal until now has run such work only on Intel and AMD chips.
• Modal last week raised $750 million in a funding round led by Accel at a $15.75 billion valuation.
• Nvidia has told investors it expects to generate at least $20 billion from Vera chip sales this fiscal year.