AI Startup Baseten Raises $300 Million at $5 Billion Valuation

Artificial intelligence startup Baseten Labs Inc. has raised $300 million at a $5 billion valuation, according to a person familiar with the matter.

The deal more than doubles Baseten’s valuation from another funding round less than six months ago. The startup focuses on AI inference — or the process of running AI systems after they’ve been trained — and raised $150 million in September at a $2.15 billion valuation.