One signal

Update

What changed

Bloomberg reports that Modal Labs is in talks to raise fresh funding at a valuation of about $15bn, up from $4.65bn in May. That would put the AI infrastructure company at more than three times its previous mark, although the discussions are not a completed financing round.

Baseten is also reportedly in talks at a valuation of about $26bn, compared with $13bn in June. The figures add useful scale to the earlier funding signal: investors are not merely circling model-makers, but the platforms that help businesses run AI systems.

The valuations remain reported targets rather than settled terms, and funding talks can change or collapse with impressive financial choreography. Still, the sharp increases suggest that demand for the machinery of practical AI adoption is attracting capital almost as aggressively as the models themselves.

Sources and evidence

• Sources: Modal Labs is in funding talks at a ~$15B valuation, up from $4.65B in May; Baseten is in funding talks at a $26B valuation, up from $13B in June (Bloomberg): Bloomberg reports that Modal Labs and Baseten are in funding talks at approximately $15bn and $26bn valuations respectively, compared with reported previous valuations of $4.65bn and $13bn.

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