Modal Labs Secures $750M Funding Round at $15.75B Valuation

Modal Labs, an AI inference infrastructure provider, is nearing a $750 million funding round led by Accel, which would increase its valuation to $15.75 billion. This funding round comes just four months after Modal's previous fundraising of $355 million at a valuation of $4.65 billion. The company has seen rapid growth in demand for its inference services, particularly from users of open-source models.