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)

<a href="https://www.reuters.com/business/modal-labs-valued-465-billion-ai-coding-takes-off-2026-05-21/"><img align="RIGHT" border="0" hspace="4" src="http://www.techmeme.com/260521/i37.jpg" vspace="4" /></a> <p><a href="https://www.techmeme.com/260521/p37#a260521p37" title="Techmeme permalink"><img height="12" src="http://www.techmeme.com/img/pml.png" style="border: none; padding: 0; margin: 0;" width="11" /></a> Deepa Seetharaman / <a href="http://www.reuters.com/">Reuters</a>:<br /> <span style="font-size: 1.3em;"><b><a href="https://www.reuters.com/business/modal-labs-valued-465-billion-ai-coding-takes-off-2026-05-21/">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</a></b></span>&nbsp; &mdash;&nbsp; AI startup Modal raised $355 million in a new round of financing, valuing the company at $4.65 billion, CEO Erik Bernhardsson told Reuters.</p>