Modal Labs in talks to raise funds at $15bn valuation, Bloomberg reports
The AI infrastructure startup, which raised $355m in May at a $4.65bn valuation, is discussing new financing at roughly three times that value, Bloomberg reported.
AI infrastructure startup Modal Labs is in discussions to raise new financing at a valuation of roughly $15bn, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The talks would value the company at more than three times the $4.65bn valuation it secured in May, when it raised $355m, according to Reuters, which previously reported that round.
Modal helps AI companies access the chips they need to run artificial intelligence tools. It also offers a sandbox product that lets developers test their code, increasingly written by AI, before embedding it in their products.
Modal Labs did not immediately respond to a Reuters request for comment.
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