Oxfordshire photonics firm Salience Labs closed an oversubscribed $125M Series B led by Bullhound Capital, with AMD Ventures, Intel Capital and the British Business Bank participating. The money will go toward scaling production of its optical switches for AI data centres and opening a second West Coast office.
Sachin Katti is stepping down from his infrastructure role at OpenAI but will remain with the company as an advisor. In a LinkedIn post, he said he wants to go and build something new.
Modal, a cloud platform that runs AI models and code for developers, raised $750 million in a Series D at a $15.75 billion valuation. Accel led the round with Kleiner Perkins joining, and all existing investors took part; its annualized revenue run rate now exceeds $1 billion.
CoreWeave's shares fell 15% and yields on its bonds widened further, nearing 15%. The moves reflect investor concern about heavy borrowing to fund AI infrastructure.
Speaking to Bloomberg in London, Nvidia's CEO said he would stop supplying chips to a customer building unsafe AI, while arguing that today's level of concern is not justified. His answer is faster development of containment and monitoring technology, which Nvidia is assembling a team to sell.
Dell shares fell 11 percent and led a broader sell-off in data center stocks after Barclays downgraded Dell, HPE and NetApp. The bank cited concerns that enterprise adoption of AI is lagging.