Modal Raises $750 Million in Series D Funding at $15.75 Billion Valuation
AI infrastructure company Modal has secured $750 million in a Series D funding round, significantly boosting its valuation to $15.75 billion. The company reported reaching an annualized run rate of over $1 billion, driven by its development of AI building blocks for software engineers. In broader market news, the financial sector is preparing for high-stakes volatility as the Federal Open Market Committee (FOMC) begins its two-day policy meeting to determine interest rate decisions. Additionally, major technology players including Microsoft, Alphabet, and Amazon are scheduled to report quarterly earnings later this week.
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Topics: company milestones earnings monetary policy valuation