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Erik Bernhardsson, Founder and CEO at Modal. Art by Clark Miller; YouTube.
Exclusive

Startup Modal in Talks to Raise at $4.5 Billion Valuation After Revenue Surges

By Stephanie Palazzolo and Anissa Gardizy · May 13, 2026 10:49am PDT
Modal, a startup that rents out Nvidia graphics processing units and software to help developers run and train models as well as agents, is in talks to raise money at around a $4.5 billion valuation. That would be an 80% premium to its last valuation from just a few months ago, according to two people with knowledge of the round. The steep hike... Modal, a startup that rents out Nvidia graphics processing units and software to help developers...
Anthropic CEO, Dario Amodei. Photo via Getty Images
AI Agenda

How Anthropic Could Take an OpenAI Supplier Off The Table

By Laura Mandaro · May 13, 2026 7:00am PDT
Is a big AI model maker about to take out a supplier to its archrival? That seems possible if a deal we reported on late Tuesday reaches the finish line. Anthropic is in talks to buy developer tools startup Stainless for at least $300 million, according to Stephanie and Katie. The New York startup makes software development kits that... Is a big AI model maker about to take out a supplier to its archrival? That seems possible if a...
Art by Clark Miller
Artificial Intelligence

Anthropic Flexes Pricing Power as Its Customers Willingly Eat the Cost

By Laura Bratton and Aaron Holmes · May 13, 2026 6:00am PDT · 2 comments
Anthropic’s revenue growth is unprecedented. Newer Anthropic customers such as PagerDuty are a big part of the reason. Eric Johnson, chief information officer at PagerDuty, which helps software engineers respond to tech outages, said he is bracing for volatile costs as his company’s 1,200 employees start using Anthropic’s AI coding and other... Anthropic’s revenue growth is unprecedented. Newer Anthropic customers such as PagerDuty are a...