Vercel Notches $9.3 Billion Valuation in Latest AI Funding Round

Artificial intelligence startup Vercel raised $300 million in a new funding round led by Accel and Singapore’s sovereign wealth fund GIC Pte, attracting a valuation of $9.3 billion.

New investors BlackRock Inc., StepStone, Khosla Ventures, Schroders, Adams Street Partners and General Catalyst participated in the round, the company said Tuesday. The startup is also conducting a tender offer allowing some early backers and employees to sell about $300 million worth of shares.