News Summary

• Baseten, a California-based artificial intelligence startup co-founded by Australians, said it raised $1.5 billion in a funding round.
• The round was led by u.s.-based investors Sands Capital and Wellington Management.
• Baseten sells software and infrastructure that let companies customise their own AI models, using what it says is a cheaper alternative to providers such as OpenAI and Anthropic.
• The company said its revenue has grown 20-fold over the past year as demand rises for "inference"