Modal often needs to make substantial upfront payments and sign contracts longer than three years to secure desired compute capacity.

“And in many cases, um, in order to get the capacity we want, like, we, we have to go and do, you know, three-plus year deals, and you have to pay a meaningful amount of money up front.”

“Uh, and, and you're locking in pricing on, on a three-year term, right? So, you know, like...”