Global AI startup funding soars as Modular raises $250 million

In the global AI sector, Modular – a U.S.-based startup enabling AI workloads across different chips – has raised $250 million, lifting its valuation to $1.6 billion. The round underscores the broader trend of heavy investment in AI infrastructure and software layers, especially as dominant players like Nvidia maintain chip-market control. Investors view such companies as enabling the next wave of AI deployment and hardware neutrality. The funding is seen as a tailwind for ecosystem growth and positioning ahead of next-gen hardware cycles.