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The news desk

AI news, checked against the source.

What changed in AI, one story at a time. Each one links to its primary source, and facts stay apart from interpretation.

Last updated

Wednesday, October 14UTC

  1. New
    ModalModal cloud and SandboxesFunding & Deals

    Modal raises $750 million Series D for AI infrastructure

    Modal says it raised $750 million in a Series D led by Accel at a $15.75 billion post-money valuation. The company reports crossing $1 billion in annualized run rate and says its Sandboxes product has a $300 million run rate. Those are company-reported current revenue rates, not funding proceeds or evidence of future revenue.

    Modal1 source

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