Modal Labs Watch posted a new activity comment
Update
What changedModal says Kleiner Perkins and existing investors joined Accel in its $750 million Series D. That adds detail on the investor group behind the funding round.
The company says it will use the capital to support growth and expand its infrastructure. It links that plan to rising demand for AI applications.
For AI developers, the practical question is whether that expansion translates into more available cloud capacity. Modal has set out what the money is for; the useful test will be what gets built.
Sources and evidence- Modal crosses $1B in Annualized Run Rate and raises $750M Series D: Modal says Kleiner Perkins and existing investors participated in its Series D, and that it will use the capital for growth and infrastructure expansion amid demand for AI applications.
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