Baseten poised to secure $1.5B, valued $11B-$13B for open-source AI
Business
Baseten, an AI startup, is about to secure a massive $1.5 billion funding round, putting its value between $11 billion and $13 billion.
The company helps businesses run open-source AI models, so they don't have to rely on pricey platforms like OpenAI or Anthropic.
Baseten taps 20 cloud providers
Baseten's software taps into 20 cloud providers, making it easier and cheaper for companies to use and optimize AI.
Investors like Altimeter Capital and Wellington Management are backing the deal, showing big confidence in this approach.
Co-founder and chief executive Tuhin Srivastava shared that one client managed to cut costs by 70% using Baseten's tools, a pretty impressive win as open-source AI keeps getting better.