Emerald AI said it has raised $150 million at a $1.05 billion valuation. According to Sina Finance, the company uses software to prevent computing facilities from driving electricity demand out of control.

Silicon Valley Power, which serves one of California's most energy-intensive regions, has about 55 data centers connected to its grid within roughly 20 square miles. The utility has been trying to double capacity but still cannot meet immediate demand increases from customers such as Nvidia and Intel.

Silicon Valley Power recently hired Emerald AI, a startup founded two years ago, to help data centers manage power consumption more flexibly using proprietary software. The company said its software lets data centers reduce energy use when requested by utilities and take advantage of excess capacity when it is available.

DCVC and Energize Capital co-led the round. Nvidia, Samsung Ventures, GE Vernova, and Salesforce Ventures also participated. Emerald AI was founded by Varun Sivaram, who is now chief executive officer, and its chief scientist is Ayse Coskun, a Boston University computer science professor.