Baseten Raises $1.5B Series F at up to $13B Valuation as Inference Becomes AI's Hot Layer

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Baseten announced a $1.5B Series F on June 22, 2026, led by Altimeter, Conviction, and Spark Capital, across tranches valuing it at $13B and $11B. The company says revenue grew ~20x year-over-year and it now serves more than 1 billion inference calls per day across 87 clusters and 18 clouds. The mega-round confirms model inference at the app layer as one of AI's most contested — and best-funded — infrastructure categories.