According to CoinMeta, Modal raised $750 million in a round of financing led by Accel last week, with a valuation of $15.75 billion, and stated that the company is expected to achieve $1 billion in sales within the next year. Modal claimed that the usage of its services has tripled, and revenue has increased by more than 15 times year-over-year. Modal stated on Monday that early tests showed that this new NVIDIA chip doubled the workload that AI agents were able to handle, which prompted the company to support NVIDIA chip design for the first time and will require Modal to make some deep-level software adjustments. CEO Burnhardson ( Erik Bernhardsson ) cautiously emphasized that the company has not abandoned its existing suppliers and will adopt a hybrid deployment model, allowing NVIDIA chips to run in parallel with the existing Intel and AMD products, allocating workloads to the hardware that performs best for each specific task.