The IT Home page is stamped 2026/10/20 11:50:40 and attributes the report to Reuters. It says Modal plans to use NVIDIA’s Vera CPU for the first time to host agents. That work previously ran only on Intel and AMD chips. The page says an early test on Monday, local time, showed the new chip doubling agent-task throughput, and that Modal therefore decided to adopt it. The page has no test table, does not say how many machines were tested, and does not name the comparison chips. The doubling is the reason they gave, not a table that can be cited.

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A flat charcoal processor module with a muted blue edge
A processor module lying flat, the top painted charcoal, with a muted blue edge and two small notches., AI-generated illustration, not a news photograph

The financing is a separate set of figures. The page says Modal last week closed $750 million led by Accel, at a post-money valuation of $15.75 billion. The company says revenue next year could reach $1 billion, that usage grew twofold, and that revenue rose more than 15 times from a year earlier. Could reach is a forecast. Last week is not a calendar day. The dollars are the page’s own figures. The renminbi conversions in parentheses are not in this piece.

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Chief executive Erik Bernhardsson says the company will not drop its current suppliers and will run a mixed cluster, placing NVIDIA chips alongside the Intel and AMD machines it already has. The page also says NVIDIA told investors that its Vera sales target for this fiscal year is at least $20 billion. That is a target, not revenue already booked. The same passage says NVIDIA had previously said OpenAI, Anthropic, Oracle, and Perplexity also plan to use the chip. Previously is not a new order from this day.

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