Inference provider Modal Labs nearing $750M round at $15.75B valuation
AI inference infrastructure provider Modal Labs is reportedly close to securing a $750 million funding round, which would value the company at $15.75 billion. Accel is said to be leading the round.
AI inference infrastructure provider Modal Labs is nearing a $750 million funding round at a valuation of $15.75 billion, according to a source familiar with the deal. Accel is reportedly leading the investment.
The new round would more than triple Modal Labs' valuation from the $4.65 billion it achieved during its previous $355 million fundraise just four months ago.
Modal Labs declined to comment on the reported funding round. The deal comes amid soaring demand for inference services, which are essential for running trained AI models and a critical component in the broader AI ecosystem.