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The GPU Buildout

Model demand and GPU scarcity push new clouds; winners offer lower unit costs, faster deploys, on-prem control, and strong dev UX.

Context: Modal | LinkedIn

Analysis Overview

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38
Companies
1364
Headcount
$1.5B
Total Raised

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Active this week:
Greylock
general catalyst
Accel
a16z
khosla
2048
Meritech
Thrive Capital
aix
altos
bain capital
bessemer
canaan
costanoa
emergence
iqt
lerer
madrona
next47
norwest
ribbit
scale
summit

Technical Risks

Multi‑tenant GPU isolation often breaks the serverless economics

Fairness, noisy‑neighbor, isolation and security concerns in shared GPUs can force either dedicating GPUs per tenant or adding complex software mediation. Both approaches erode utilization and raise operational complexity, undercutting the cost advantages that justify a serverless GPU model in the first place blog.devops.dev github.com infracloud.io.

Autoscaling constraints make latency SLAs expensive to honor

Scale‑up is limited by GPU availability and provisioning time, forcing a tradeoff between responsiveness and cost. Meeting latency targets typically requires warm pools, predictive scaling, or similar buffers—mitigations that add cost and complexity and dilute the on‑demand efficiency story blog.devops.dev github.com infracloud.io.

Key capabilities remain an unresolved engineering/research problem

Core goals—fast cold starts, efficient GPU sharing/bin‑packing, and cost‑effective autoscaling—are highlighted as active areas of engineering and research, implying prolonged iteration and operational overhead before stable, defensible performance/cost characteristics can be achieved blog.devops.dev github.com infracloud.io.

Complete Analysis

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Highlighted Companies

(Pre-seed to Series A)

CompanyFoundedLast RoundTier One Prob. (%)Team Score (%)IndustryLocationFTE
Blaxel (YC X25)
Blaxel (YC X25)
Agentic Cloud Infrastructure
01/2024
Seed
07/2025
10043AI InfrastructureSFBA7
InferX
InferX
Instant Model Access
01/2025
Pre-Seed
12/2024
8644AI InfrastructureSeattle2
Langbase
Langbase
Serverless AI Development
01/2024
Pre-Seed
08/2024
7957AI InfrastructureSFBA12
Exxa
Exxa
Efficient AI Deployment
01/2023
Seed
03/2025
6544AI InfrastructureParis3
TensorWave
TensorWave
High-Performance Cloud Computing
01/2023
Series A
05/2025
5541AI InfrastructureLas Vegas , US74
nCompass
nCompass
Fast, Reliable Inference
01/2023
Pre-Seed
04/2024
2549AI InfrastructureSFBA3
Lumino
Lumino
Cheaper GPU Training
01/2023
Pre-Seed
03/2024
2344AI InfrastructureSFBA5
Parasail
Parasail
Scalable AI Compute
01/2023
Seed
04/2025
1541AI InfrastructureSFBA19
8 companies • Get your own research: Email to agent@olymposhq.com with subject "fetch" and link in body

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