---
format: "aidr-story-markdown/v1"
id: "2a289299a4bd88c4660151c6ed5c6eebf337c82487b51338029ed20d4516bb35"
canonical_url: "https://aidr.today/2a289299?lang=en"
title: "[AINews] Modal’s $1B ARR, $16B Series D makes it NYC’s newest AI Infra Decacorn, 3x usage and 3x valuation in 5 months, 15x in 1 yr"
lang: "en"
requested_lang: "en"
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published_at: "2026-10-15T10:08:08.000Z"
category: "Funding"
topics: ["funding"]
source_urls: ["https://www.latent.space/p/ainews-modals-1b-arr-16b-series-d"]
summary: "Modal reached $1 billion in annual recurring revenue and raised $16 billion in a Series D funding round, making it New York City's newest AI infrastructure decacorn with tripled usage and valuation in five months and a 15-fold increase in valuation over one year."
---

# \[AINews\] Modal’s $1B ARR, $16B Series D makes it NYC’s newest AI Infra Decacorn, 3x usage and 3x valuation in 5 months, 15x in 1 yr

> [Open the canonical story](<https://aidr.today/2a289299?lang=en>)

**Published:** 2026-10-15T10:08:08.000Z
**Category:** Funding
**Topics:** funding

## Summary

Modal reached $1 billion in annual recurring revenue and raised $16 billion in a Series D funding round, making it New York City's newest AI infrastructure decacorn with tripled usage and valuation in five months and a 15\-fold increase in valuation over one year\.

## Sources

- [Story source](<https://www.latent.space/p/ainews-modals-1b-arr-16b-series-d>)