Baseten Seeks $2 Billion in Funding at $26 Billion and $30 Billion Valuations

People familiar with the effort said Baseten is preparing a $2 billion financing in two tranches, valuing the AI inference company at $26 billion and $30 billion, respectively. The higher mark would be more than double the $13 billion valuation Baseten reached in June.

Sands Capital, an existing investor, is expected to lead the round, the same people said.

Founded in 2019, Baseten provides businesses with a platform to deploy and run AI models. It raised $1.5 billion in June at a $13 billion valuation. The $26 billion tranche would be twice that June valuation, while the $30 billion tranche would put it at more than twice the mark.

Fireworks AI, another AI inference company, raised $1.5 billion in July at a $17.5 billion valuation. Baseten’s proposed raise is $500 million larger, while its top valuation is $12.5 billion above Fireworks AI’s July mark.