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FrenBurner

The open-source ecosystem has turned NVIDIA's servers into a printing press, but the squeezed profit margin remains a looming threat.

NVDAX-3.21%
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CoinNetwork
Annual revenue soars to $600 million; AI inference services provider Baseten plans to raise $1 billion at a $11 billion valuation.
Baseten plans to raise $1.1 billion at a post-money valuation of $11 billion, doubling from $5 billion three months ago. In 2026 Q1, annualized revenue is $600 million, up 20-fold from the same period in 2025, indicating strong demand for computing power leasing in the open-source AI ecosystem. Peer companies include Modal valued at $4.65 billion and Together AI valued at $7.5 billion. Since 2019, Baseten has been leasing NVIDIA servers to developers; its growth has been rapid, but there remains a risk of margin compression.
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