Modal and Baseten seek funding at sharply higher valuations

Modal Labs and Baseten are in talks to raise capital at higher valuations, Bloomberg reported. Modal is seeking financing at a roughly $15 billion valuation, roughly triple its valuation in a round four months ago. Baseten is discussing a round that could value it at $26 billion. Both companies provide platforms that help businesses run AI models. The reported valuations would put more capital behind that infrastructure, but the rounds remain talks rather than completed financings.