AI inference startup Modal Labs is reportedly in talks to raise a new funding round at a $2.5 billion valuation, according to four sources with knowledge of the deal, as reported by TechCrunch. This potential valuation would more than double the company's previous $1.1 billion valuation announced less than five months ago. Simultaneously, OpenAI disbanded its mission alignment team, which focused on ensuring AI systems were safe and trustworthy, as confirmed by TechCrunch. In other tech news, Uber Eats launched an AI-powered Cart Assistant, and Samsung is offering trade-in credits for its upcoming phones.
The funding round for Modal Labs, if finalized, would be led by General Catalyst, according to sources. The company's annualized revenue run rate (ARR) is approximately $50 million, the sources added. However, discussions are still in the early stages, and the terms could change. Modal Labs focuses on optimizing inference, the process of running trained AI models to generate answers from user requests. Neither Modal Labs nor General Catalyst responded to requests for comment.
OpenAI's decision to disband its mission alignment team, which was dedicated to ensuring AI systems align with human values, comes as the company reshuffles its internal structure. The team's former leader has been appointed as the company's chief futurist. The team, which was formed in September 2024, was responsible for working on alignment, a field within the industry that seeks to ensure AI acts in accordance with human interests.
In other developments, Uber Eats introduced Cart Assistant, an AI feature designed to help customers create grocery carts more efficiently. The beta version of the feature is now available in the app. Users can enter a list or upload an image of one, and the Cart Assistant will automatically add the necessary items to their basket. The feature uses previous orders to prioritize familiar items.
Glean's CEO, Arvind Jain, discussed the evolving landscape of enterprise AI, highlighting the shift from chatbots to systems that perform work across an organization. Glean, which started as an enterprise search product, has evolved into an AI work assistant, aiming to connect to internal systems and deliver intelligence. The startup raised $150 million last year at a $7.2 billion valuation.
Samsung is offering up to $900 of trade-in credit toward its new phones, as reported by The Verge. Additionally, registering for a preorder will unlock a $30 credit to use on accessories later this month. Samsung's next Unpacked event is scheduled for February 25th, where the company is expected to announce the Galaxy S26 lineup.
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