The startup founded in 2024 wants to turn data centers into flexible energy assets, and Nvidia's own venture arm is already investedHere’s an interesting dynamic in the AI arms race: one of the startups trying to compete with Nvidia in AI infrastructure already counts Nvidia’s venture arm as a backer. Emerald AI, founded in 2024 by Varun Sivaram, is reportedly looking to raise approximately $100 million in a new funding round that could push its valuation past the $1 billion mark. The company builds AI compute orchestration software designed to transform traditional data centers into flexible energy assets that play nicely with power grids. NVentures, Nvidia’s venture capital arm, participated in Emerald AI’s earlier funding rounds. Funding trajectory and valuationEmerald AI has raised approximately $68 million to $75 million in total funding to date.