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Here are the 7 things you missed today:

A fresh $250 million round lifted Modular’s valuation to $1.6 billion. Its platform lets developers run AI models seamlessly across Nvidia, AMD, and Apple chips without rewriting code. The company said it intends to expand into AI training as it takes aim at Nvidia’s market share. Investors in the raise include General Catalyst, IVP, and GV. Modular was founded by ex-Google and ex-Apple engineers in 2022, highlighting its deep technical roots. (Reuters)

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Customers using Copilot will gain access to Claude Sonnet 4 and Claude Opus 4.1 in addition to OpenAI’s GPT-4.1. These models will appear in Copilot Studio and the new Copilot Researcher feature. Microsoft said the move adds flexibility and prevents over-reliance on a single AI provider. The integration reflects the company’s “multi-partner approach” to enterprise AI. Rollout of the Anthropic models begins immediately across 365 Copilot products. (Tech Crunch)

Another $100 million raise pushed Toronto-based Cohere’s valuation to $7 billion, only a month after its previous funding. The company also announced a strategic partnership with AMD to expand infrastructure capacity for its AI services. Cohere stated the funds will help scale enterprise products and international expansion. AMD will supply hardware support to bolster training and inference workloads. The deal underscores the rapid capital inflow into independent model developers. (Tech Crunch)

Alibaba Cloud confirmed it will add Nvidia’s Physical AI tools for robotics, autonomous vehicles, and digital twins into its ecosystem. Alongside the partnership, the company unveiled its Qwen 3-Max large language model with 1 trillion parameters. Alibaba raised its AI spending plans beyond the earlier $50 billion figure disclosed. CEO Eddie Wu said aligning with Nvidia enhances Alibaba’s global competitiveness. The announcement was made at Alibaba’s annual tech conference in Hangzhou. (Bloomberg)

A warning from Fed Chair Jerome Powell that valuations looked “fairly highly valued” triggered losses across Wall Street. The S&P 500 fell 0.4%, the Nasdaq slid 0.6%, and the Dow dropped 0.3% by the close. Apple and Nvidia were among the biggest drags on the indexes. Energy and consumer discretionary stocks managed to buck the broader weakness. The retreat followed a multi-week rally fueled by optimism over Fed rate cuts. (AP News)

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