Modal Labs, which offers a serverless cloud platform to build AI apps and run AI inference, raised a $355M Series C at a $4.65B valuation, up from $1.1B in 2025 (Deepa Seetharaman/Reuters)

Deepa Seetharaman / Reuters: Modal Labs, which offers a serverless cloud platform to build AI apps and run AI inference, raised a $355M Series C at a $4.65B valuation, up from $1.1B in 2025 — AI startup Modal raised $355 million in a new round of financing, valuing the company at $4.65 billion, CEO Erik Bernhardsson told Reuters.