Baseten is finalizing a $1.5 billion funding round. The deal values the AI infrastructure startup at up to $13 billion. Investors are participating through a dual-tiered structure at $11 billion and $13 billion valuations. Altimeter Capital, Conviction, Spark Capital, Sands Capital, and Wellington Management co-led the financing. This marks a sharp increase from the company's $5 billion valuation in January 2026.
Baseten specializes in AI inference by providing software and computing capacity for businesses. The platform optimizes open-source AI models to offer cheaper alternatives to proprietary systems from OpenAI and Anthropic. This capital influx underscores investor confidence in the infrastructure required to scale open-source AI.