AI inference startup Baseten is reportedly about to close on a record $1.5 billion funding round, valuing the company at a staggering $13 billion. This represents a 160% increase in valuation over just half a year.

The latest round is noteworthy for its split pricing: some investors are coming in at a $13 billion valuation, while others see it differently at $11 billion. The deal is co-led by Spark Capital, Sands Capital, Altimeter Capital and Wellington Management.

Launched in 2019, Baseten has been benefiting from the 'inference gold rush,' as VCs pour money into companies building this critical layer for AI processes. Inference happens after a user submits a prompt, and Baseten claims to handle it quickly by routing requests to the best model—often open-source ones.

This rapid valuation increase raises questions about whether we're witnessing another tech bubble or a genuine leap in technological progress. For now, Baseten is riding high but the future remains uncertain.