Modal and Baseten are in talks for funding, with valuations potentially rising to $15 billion and $26 billion respectively.

According to Bloomberg, AI inference platform startups Modal Labs and Baseten are in talks for a new round of financing. Modal Labs is valued at approximately $15 billion, roughly triple its valuation four months ago; Baseten's valuation could reach $26 billion, double its $13 billion valuation in June. As enterprises accelerate AI adoption and compute-intensive tools such as agents develop, market demand for model inference services and related compute infrastructure continues to grow.