Baseten raising $1.5bn at up to $13bn valuation

Baseten is finalizing a $1.5bn funding round valuing the company at up to $13bn, more than doubling its $5bn valuation from January. The round is co-led by Altimeter Capital, Conviction, Spark Capital, Sands Capital, and Wellington Management. The company sells inference infrastructure, betting profits lie in running cheaper open-source models.