Vercel Notches $9.3 Billion Valuation in Latest AI Megaround

Artificial intelligence startup Vercel raised $300 million in a new funding round led by Acceland 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.

Vercel develops tools to help companies make web and AI applications in the cloud. The decade-old startup has recently seen increasing interest from investors and customers as ...