Modal, Baseten in funding talks to help businesses run AI

Modal Labs and Baseten, two startups offering platforms for running AI models, are in funding talks to double their valuations in quick succession. Modal is discussing a round at roughly a $15 billion valuation, about triple its worth four months ago.

• Modal Labs is in talks to raise at a valuation of about $15 billion
• That is roughly triple its valuation from four months ago
• Baseten is also negotiating a new funding round
• Investor demand for AI infrastructure services is surging