Baseten in talks to raise at about a $26B valuation, Axios and Bloomberg reported
- Valuation
- $26B
- Place in VP50
- #19
- Sources
- 2
- Claims verified
- 0 of 5
What happened
Axios Pro reported on September 22, 2026 that Baseten, a startup that helps businesses run AI, had been approached about doubling its valuation to about $26 billion, three months after its last round. Axios cited sources and did not name an investor or an amount. Bloomberg followed on September 23, 2026, reporting that Baseten and another startup, Modal, were in funding talks, and said Axios had first reported details of the Baseten round.
Bloomberg reported that the round could value Baseten at $26 billion, up from $13 billion in June. Baseten and Modal both declined to comment, and the people Bloomberg cited spoke on condition of anonymity because the information was not public. Neither report gave an amount to be raised, a lead investor or a closing date. The valuation was a figure reported from unnamed sources, not a priced round announced by the company.
Key points
- Axios Pro reported Baseten was approached about doubling its valuation to about $26 billion.1
- The approach came about three months after the company's last round.1
- Bloomberg reported the round could value Baseten at $26 billion, up from $13 billion in June.2
- Baseten and Modal declined to comment; Bloomberg's sources spoke anonymously.2
- No amount, lead investor or close was reported.12
Why it matters
The reported $26 billion is twice the $13 billion Bloomberg gave for June. It is a talks-stage figure from anonymous sources, so the June price remains the last confirmed reference for the company's shares.
Neither report states an amount, a lead investor or whether any shares would be sold by existing holders, so the reports give employees and early investors no confirmed new price for their stakes.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Feb 19, 2025 | $825M | $75M | IVP and Spark |
| Series D | Sep 5, 2025 | $2.1B | $150M | BOND |
| Series E | Jan 23, 2026 | $5.0B | $300M | CapitalG and IVP |
| Series F | Jun 22, 2026 | $13B | $1.5B | Altimeter Capital, Conviction Partners, Sands Capital, Spark Capital, and Wellington Management |
Updated
Fact-check
- Axios Pro reported on September 22, 2026 that Baseten was approached about doubling its valuation to about $26 billion, about three months after its last round.[1] Axios Pro returned 403 to the checker; the claim rests on the writer's extract of [1] and on the event data, which records the $26 billion valuation and the 2026-09-22 date.Partly verified
- Bloomberg reported on September 23, 2026 that Baseten and Modal were in funding talks and that Axios first reported details of the Baseten round.[2] Bloomberg returned 403 to the checker; its headline in the event data names Modal and Baseten in funding talks, and the rest rests on the writer's extract.Partly verified
- Bloomberg reported the round could value Baseten at $26 billion, up from $13 billion in June.[2] Bloomberg was blocked for the checker; the $13 billion June figure comes from the checked research data, which records Bloomberg as giving it.Partly verified
- Baseten and Modal declined to comment; Bloomberg's sources spoke anonymously.[2] Bloomberg was blocked for the checker; the research data and the writer's extract record that Baseten declined to comment.Partly verified
- No amount, lead investor or close was reported.Both sources were blocked for the checker; the research data records no amount, lead investor or close as of Oct 18.Partly verified
Sources
- [1]Axios Pro (opens in a new tab)Scoop: Baseten in talks to raise at $26B valuationapproached about doubling its valuation to about $26 billion, just three months after its last round
- [2]Bloomberg (opens in a new tab)Startups Modal, Baseten in Funding Talks to Help Businesses Run AIBaseten and Modal declined to comment.
