Modal Labs Seeks Funding At $2.5B Valuation

Modal Labs is reportedly looking to raise funds at a $2.5 billion valuation, TechCrunch reported Wednesday (Feb. 11). The inference-infrastructure startup would more than double its prior $1.1 billion valuation and follows large raises for rivals Baseten ($5 billion) and Fireworks AI ($4 billion). CEO Erik Bernhardsson denied active fundraising, saying recent VC conversations were general.