This week’s funding spans the physical capacity, networking and software needed to put AI systems into production. The largest transactions support data center expansion and managed computing, while smaller rounds address how accelerators communicate, how models are evaluated and how compute and memory fit into a system.
SWI Group
Round: Institutional equity capital increase | Sector: Cloud / Data Center Infrastructure
SWI Group raised €800 million through an institutional capital increase to expand its data center and AI computing platform in Europe and the United States. The financing, completed through new ordinary shares, will support power infrastructure, compute deployments and development projects, although the company did not name the participating investors. For enterprise buyers, the relevant milestone is commissioned capacity with clear service commitments, not the size of a provider’s development pipeline.
Modal
Round: Series D | Sector: Cloud / AI Infrastructure
Modal raised $750 million in a Series D led by Accel as it expands infrastructure for AI inference, model training and isolated execution of agent-generated code. Its platform combines a custom file system, container runtime, scheduler and networking with capacity sourced from more than 20 clouds, and the company is developing additional reinforcement-learning and post-training services. That approach can reduce provisioning work, but enterprise teams still need explicit guarantees about workload isolation, data location and service availability.
Salience Labs
Round: Series B | Sector: Networking / Semiconductors
Salience Labs completed a $125 million Series B led by Bullhound Capital to scale manufacturing of its optical circuit switches and expand its U.S. presence. Following a demonstration of its 64-port photonic switch, the company plans to develop 128-port and 256-port systems designed to connect GPUs across multiple racks. The funding addresses a practical limit on AI infrastructure: adding accelerators delivers less value when the network cannot keep them working together efficiently.
Labelbox
Round: Series E financing, including equity and a credit facility | Sector: Cloud / AI Development Infrastructure
Labelbox raised more than $100 million in Series E financing led by Infinitum Partners, combining equity with a credit facility whose individual amounts were not disclosed. The funding supports research and engineering for Horizon, its reinforcement-learning and evaluation infrastructure, and Recursion Managed Agents, which deploys agents across existing enterprise applications. Its enterprise value will depend on measured task reliability and clear controls over agents that act across business systems.
Mueon
Round: Series A | Sector: Semiconductors / AI Systems
Mueon raised $65 million in a Series A led by Maverick Silicon to expand its engineering and operations teams and move its Cubelets architecture toward broader system validation and production readiness. The modular, three-dimensional design integrates compute, memory, interconnects, power delivery and cooling rather than optimizing an accelerator in isolation. Its efficiency targets remain development goals, making validation and manufacturing progress more useful buying signals than projected rack-level gains.
The Weekly Funding Pulse tracks the most significant IT infrastructure, cloud, semiconductor, networking, and ITSM funding rounds each week. Coverage is curated for enterprise IT professionals and decision-makers.
