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After updating to Angular 6, I get the following error on ng serve:

Could not find module "@angular-devkit/build-angular" from "/home/Projects/myProjectName".
Error: Could not find module "@angular-devkit/build-angular" from "/home/Projects/myProjectName".
    at Object.resolve (/home/Projects/myProjectName/node_modules/@angular-devkit/core/node/resolve.js:141:11)
    at Observable.rxjs_1.Observable [as _subscribe] (/home/Projects/myProjectName/node_modules/@angular-devkit/architect/src/architect.js:132:40)

ng update says everything is in order. Deleting node_modules folder and a fresh npm install install did not help either.