The A.I. Daily
Modal Labs tops week's US funding with $750M
US megadeals slowed this week, with only two rounds in the hundreds of millions. AI infrastructure provider Modal Labs raised $750M in a Series D led by Accel at a $15.75B valuation and said it passed a $1B annual revenue run rate; construction automation firm Icon followed with $200M. Biotech, insurance and AI also drew larger rounds.