Source: Inference provider Modal Labs closing in on $750M round at $15.75B valuation
What's happening
Modal Labs, an AI inference provider, is reportedly closing in on a $750 million funding round that would value the company at $15.75 billion. TechCrunch AI says the financing would more than triple Modal's valuation from just four months ago. This comes alongside other large AI funding moves, including reports that OpenAI is targeting a $30 billion raise at a $1.4 trillion valuation and a16z-backed EliseAI raising $350 million to reach a $4 billion valuation.
Why it's trending
Big-ticket AI infrastructure and model plays are accelerating rounds and valuations right now, driven by rapid demand for inference capacity and enterprise AI adoption.
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If Modal Labs just tripled valuation in four months to $15.75B on a $750M round, the market is pricing AI inference as the new real estate play, but that growth can be a mirage if it's all round-to-round re-rating.
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Original sources6
- a16z-backed EliseAI raises $350M, doubles valuation to $4B
EliseAI raises $350M, doubles valuation in a year.
TechCrunchSep 29 - LEAKED: OpenAI's revenue run rate nears $70B as enterprise sales doubler/OpenAISep 29
- OpenAI Targets $30B in New Funding at $1.4T ValueHackerNewsSep 29
+3 more sources for this topic
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