Emerald AI valued at $1.05 billion after Series A funding round

Aug 25 (Reuters) - Emerald ‌AI, which develops ​software ​to help AI data centers reduce or shift power usage when electricity grids are under ‌stress, said on Tuesday it had raised $150 million ⁠in a funding round that valued the company at $1.05 billion.

Investor appetite ‌for AI infrastructure startups ‌has intensified over the past year as tech companies race to expand data center capacity, driving up ​valuations and accelerating funding rounds for firms addressing bottlenecks such as power availability.

Here are some more details:

• ⁠The Series A round was co-led by Energize Capital and DCVC and included ​participation from several financial and strategic investors, bringing the company's total capital raised to more ​than $220 million.

• The company said ‌it was transforming AI data centers into flexible grid assets that dynamically adjust power consumption ⁠in response to grid conditions.

• Morgan Stanley projects that global electricity demand will increase by more than 1 trillion ⁠kWh annually through 2030, with data centers contributing nearly 20% of ​this growth.

• "We founded Emerald AI on the conviction that the intelligence driving the AI revolution could solve its own greatest bottleneck: power," ‌said Emerald AI, Founder and CEO Dr. Varun Sivaram.

• The company said it would ‌use the new capital to scale commercial deployments worldwide ⁠with its customers, which ‌include leading AI ​firms, data center operators, and electric power utilities.

(Reporting by Pragyan Kalita in Bengaluru; Editing by Tasim ‌Zahid)

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