venture funding

AI cloud startup Modal Labs raised $355 million at a $4.65 billion valuation. This significant funding round demonstrates continued investor appetite for AI infrastructure companies despite broader market volatility.

Convective Capital raised an $85 million fund to invest in disaster resilience technology, expanding beyond its original focus on fire prevention tech. This matters to investors because climate adaptation represents a growing market opportunity as extreme weather events increase globally.

Elon Musk alleges that OpenAI CEO Sam Altman and president Greg Brockman deceived him into donating $38 million to the company. This high-profile legal battle could impact OpenAI's governance structure and future AI development partnerships with major tech investors.