# Modal Labs is reportedly nearing a $750 million round, TechCrunch says

- Published: 2026-09-28T21:29:18.000Z
- Updated: 2026-09-29T00:21:34.348Z
- Section: Market
- Topics: Business
- Page: https://aidailyjournal.com/en/n/2026/09/28/modal-labs-is-reportedly-nearing-a-750-million-round-techcrunch-says/
- Sources: [TechCrunch](https://techcrunch.com/2026/09/28/source-inference-provider-modal-labs-closing-in-on-750m-round-at-15-75b-valuation)

## Summary

According to TechCrunch, a source familiar with the negotiations says Modal Labs is nearing a $750 million round led by Accel, at a $15.75 billion valuation including the investment. The company declined to comment. The amount would more than triple the $4.65 billion valuation Modal reached four months earlier, when it announced a $355 million fundraise.

The potential round comes amid rising demand for inference services, particularly for open-source models. Modal, which lets customers run models and other compute-intensive workloads without managing their own servers, told Reuters that it had surpassed $300 million in annualized revenue in May. TechCrunch notes that these companies are growing rapidly but face thin margins because acquiring or leasing computing capacity remains expensive.

## Why it matters (editorial interpretation)

The potential round, not confirmed by Modal Labs, would lift its valuation to $15.75 billion just months after its previous raise. The case also highlights the tension between demand for inference services and margins pressured by the cost of computing capacity, according to the context described by TechCrunch.

_Summary written by AI Daily Journal in its own words, based on the sources above. For details, read the original articles._