Baseten seeks to raise $2 billion at a valuation of up to $30 billion: valuation more than doubles in 4 months

Beating AI News Flash: AI inference platform Baseten is planning to raise approximately $2 billion in new funding. Bloomberg reports that this round is proposed to be priced in two tranches: the first tranche at a $26 billion valuation, and the second tranche at $30 billion. Existing investor Sands Capital is expected to lead the round, and the deal has not yet been completed.

Baseten was valued at only $5 billion in January this year, and in June it had just completed a $1.5 billion funding round at a $13 billion valuation. If the new round closes at the highest tranche, its valuation will rise to 6 times the original within nine months. Notably, the June funding round was also reported to have used dual-tranche pricing, at $11 billion and $13 billion respectively.

Baseten mainly helps enterprises deploy and run AI models, handling GPU compute scheduling, inference optimization, and related work. Cursor, Notion, OpenEvidence, and others are its customers. The company disclosed in June this year that its revenue grew 20-fold over the past year, and inference usage grew 40-fold.

As enterprises deploy open-source and custom models in large numbers, inference platforms are experiencing rapid growth.