Modal Labs , a startup specializing in AI inference infrastructure, is in the process of raising a new round at a valuation of about $2.5 billion, according to four people with knowledge of the deal. Should the deal close at these terms, the funding round would more than double the company’s valuation of $1.1 billion announced less than five months ago. General Catalyst is in talks to lead the round, the people told TechCrunch. Modal’s annualized revenue run rate (ARR) is approximately $50