Yahoo Finance | EN590 Commodities

Energy Markets · 2026-05-21T17:03:42.000Z

SAN FRANCISCO, May 21 (Reuters) - AI startup Modal raised $355 million in a new round of financing, valuing the company at $4.65 billion, ‌CEO Erik Bernhardsson told Reuters. AI startups have been whipped by two ‌shifts this year: the surge in AI coding and the increasing scarcity of computing power. ​Modal Labs is confronting both. The startup helps AI companies access the chips they need to runAI tools, called inference. It also has a sandbox product that allows developers to test their code, increasingly created through AI, before embedding ‌it in their products. The company's ⁠new round is led by Redpoint Ventures and General Catalyst, which will have a board seat. The Series C round values ⁠the company at $4.65 billion, the company said, up from $1.1 billion in the fall. The valuation

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25+ years in mineral exploration and extraction. 15+ years of global commodity trading. Based in New York, USA — serving 75+ countries. Products: EN590 Diesel · Crude Oil · Jet Fuel · Mazut · Bitumen · Sulphur 99.5% · Urea 46% · NPK Fertilizers.

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