Together AI, a neocloud provider that offers on‑demand Nvidia GPU clusters and other AI‑specific infrastructure, closed an $800 million Series C financing on Wednesday, pushing its post‑money valuation to $8.3 billion. The round was spearheaded by Aramco Ventures, with participation from Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia, March Capital, Pegatron, SentinelOne’s S Ventures and several other investors.
Founded in 2022, the company has moved quickly through the funding cycle. Sixteen months ago it raised a $305 million Series B at a $3.3 billion valuation, and a year earlier it secured a $102.5 million Series A led by Kleiner Perkins, also backed by Nvidia and Emergence Capital. Rumors of a larger raise circulated in March when The Information reported that Together AI was courting $1 billion at a $7.5 billion valuation. The final terms, however, delivered less capital for a slightly higher valuation, suggesting the firm struck a more favorable deal.
Together AI’s revenue trajectory mirrors the broader shift toward open‑source AI models. The firm claims annual bookings exceeding $1.15 billion in its most recent quarter, driven by enterprises that prefer cheaper, open‑source alternatives to proprietary, token‑priced models. The company points to a three‑fold increase in open‑source model usage across the industry over the past year, a trend echoed by research from AI gateway OpenRouter.
Among the platform’s paying customers are software developer tools firm Cursor, AI‑driven analytics startup Cognition, and biotech analytics company Decagon. The client list underscores the platform’s appeal to businesses that need scalable compute without the premium cost of closed‑frontier AI services.
Co‑founders Vipul Ved Prakash, Percy Liang and Ce Zhang bring a mix of entrepreneurial and academic experience to the venture. Prakash previously sold his social‑media search startup Topsy to Apple in 2013 for more than $200 million. Liang, a Stanford professor, and Zhang, an associate professor with ties to ETH Zürich and the University of Chicago, add deep technical expertise.
The infusion of capital arrives as neocloud providers attract heightened venture interest. Upscale AI announced a $500 million raise at a $2 billion valuation, while TensorWave secured $350 million at a $1.55 billion valuation, highlighting the sector’s momentum. Together AI’s latest round positions it at the forefront of a market where demand for flexible, high‑performance AI infrastructure continues to outpace supply.
With the new funding, Together AI plans to expand its global data‑center footprint, accelerate product development and broaden its sales force. The company aims to capture a larger share of enterprises migrating away from costly token‑based AI services toward more affordable, open‑source alternatives.
Cet article a été rédigé avec l'assistance de l'IA.
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