Artificial intelligence infrastructure startup Baseten is preparing to close a substantial new funding round that would lift its valuation to roughly $30 billion, according to people familiar with the matter.
The round features two separate pricing segments. The first values the company at $26 billion while the second reaches the $30 billion mark, the sources said. They asked not to be identified because they were discussing private information.
Sands Capital is expected to anchor the round as an existing backer of the startup. The financing is anticipated to deliver approximately $2 billion in fresh capital to Baseten, one of the people added.
Neither Baseten nor Sands Capital responded to requests for comment. Earlier reporting by Axios had highlighted the $26 billion valuation level.
The company was previously valued at $13 billion in June when it raised $1.5 billion. Founded in 2019, Baseten counts venture firms such as Altimeter Capital, IVP and Spark Capital among its supporters.
The funding comes amid surging investor interest in AI inference, the stage where trained models are deployed and run. Baseten provides a platform that lets businesses operate multiple AI models at scale.
Its nearest rival, Fireworks AI, which is backed by Sequoia Capital, secured $1.5 billion at a $17.5 billion valuation in July. Analysts expect spending on inference hardware and compute to eventually surpass outlays for model training as adoption widens and more complex applications such as autonomous agents gain traction.
Many AI developers are turning to specialized inference platforms to lower costs when running advanced models from providers like OpenAI and Anthropic. These platforms also support fine-tuning open-source models for specific business needs.