The round was led by Aramco Ventures, the venture arm of Saudi Arabia's state oil company Saudi Aramco
Anadolu / Getty Images
Together AI announced an $800 million Series C on Wednesday at an $8.3 billion post-money valuation, more than doubling the San Francisco company's valuation. The round was led by Aramco Ventures, with participation from Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia $NVDA, March Capital, Pegatron, SE Ventures, and others, the company said.
Using open-source models including DeepSeek, MiniMax, and Kimi, Together AI's platform gives businesses a way to train and deploy AI workloads for less than they would pay for closed systems from providers like OpenAI and Anthropic. To serve those customers, Together AI acquires computing chips — through purchase or rental — and deploys specialized software to accelerate model performance, a technique known as inference; on top of that infrastructure, it makes hundreds of open-source models available in configurations that can be customized to fit a client's specific requirements, according to the New York Times.
Founded in 2022, Together AI counts Cursor, Cognition, and Decagon among its paying customers. Decagon co-founder Ashwin Sreenivas said that moving workloads to Together AI cost one-fifth to one-seventh of what closed models charged. The company's annual bookings crossed $1.15 billion last quarter, as open-source model usage across the industry tripled in twelve months, the company said.
"Intelligence is becoming a foundational resource for the modern economy, every bit as essential as electricity, bandwidth or capital," Together AI co-founder and CEO Vipul Ved Prakash said in a statement. "Our mission is to ensure that intelligence is abundant, not expensive."
Together AI said it will use the funding to expand its products and scale its computing capacity and infrastructure, which it expects to grow roughly 50-fold over the next five years. The company said it plans to grow its infrastructure and computing capacity by approximately 50 times over the coming five years.
Prosperity7 Ventures managing director Abhishek Shukla said the company is "headed towards the public markets."
The raise brings Together AI's total funding to $1.3 billion, according to the New York Times. Among its competitors, Baseten secured $1.5 billion in financing at a $13 billion valuation just last month.
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