Emerald AI Raises $150 Million at $1.05 Billion Valuation to Ease Data Center Power Strain
Updated
Updated · The New York Times · Aug 25
Emerald AI Raises $150 Million at $1.05 Billion Valuation to Ease Data Center Power Strain
1 articles · Updated · The New York Times · Aug 25
Summary
$150 million in new funding valued Emerald AI at $1.05 billion, giving the two-year-old startup fresh backing to expand software that helps data centers adjust electricity use.
Silicon Valley Power recently enlisted Emerald because roughly 55 data centers on its 20-square-mile grid are exhausting spare capacity as AI customers such as Nvidia and Intel seek more power immediately.
Emerald says its software lets utilities signal data centers to shift consumption more flexibly, offering an alternative to waiting for costly grid build-outs.
DCVC and Energize Capital are leading the round, with Nvidia, Samsung Ventures, GE Vernova and Salesforce Ventures also investing as the industry faces growing backlash over data centers' energy demands.