Modular, an AI startup, has raised $250 million, tripling its valuation to $1.6 billion. The company aims to disrupt Nvidia's AI software dominance by enabling developers to run applications across different chip platforms.
Shares of Marvell Technology dropped 15% after the AI chipmaker reported lower-than-expected data center revenue and provided a lackluster outlook for the upcoming quarter. The CEO acknowledged some challenges in customer pipeline clarity, raising concerns among investors.
