SAN FRANCISCO, CA, Baseten, the AI inference company powering the world's most advanced AI applications, announced a $1.5 billion Series F financing led by Altimeter Capital, Conviction, and Spark Capital. Sands Capital and Wellington Management also participated as co-leads, with IVP, Greylock, 01A, Blackbird, Durable Capital Partners, Verified Capital, Battery Ventures, and D. E. Shaw Ventures also contributing significant investment along with existing investors.

The round includes investments made across two tranches at $13 billion and $11 billion respectively, and reflects surging demand for inference at the app layer as closed source and open source models converge in capability, cost and customization.