🇺🇸AI-compute provider Modal raised $750 million last week in an Accel-led financing round at a $15.75 billion valuation.

The supplied report describes Modal’s $750 million financing as raised, rather than as a proposed round or maximum funding facility. Accel led the round, which valued the company at $15.75 billion; the message does not specify whether that valuation is pre-money or post-money.

Modal said service usage had grown threefold and revenue had increased more than fifteenfold year over year. It also said it was on course to reach $1 billion in sales within the following year, which remains a company forecast rather than an achieved annual revenue figure.

The same report described early testing of an unnamed new NVIDIA chip that Modal said doubled the amount of work AI agents could complete. Modal said supporting that chip design would require substantial software changes, but the supplied message identifies neither the chip model nor the test methodology.

The source provides no investor allocation, security type, liquidation preferences, dilution percentage, or detailed use of proceeds. Its financing and operating claims are available here through a Telegram report, not a supplied financing document or primary company announcement.