● Covered by 1 source · 1 reportMedium impact
Together AI secures $800M Series C, valued at $8.3B
Key points
- Raised $800 million in Series C funding
- Achieved an $8.3 billion valuation
- Annual bookings exceed $1.15 billion
Funding Details
Together AI announced its $800 million Series C funding round on Wednesday, boosting its valuation to $8.3 billion. Aramco Ventures led the round, supported by investors like Vista Equity Partners and Nvidia. This comes after the company secured $305 million in Series B funding about 16 months ago at a $3.3 billion valuation.
Market Demand for AI Infrastructure
The funding surge aligns with increased demand for AI infrastructure as companies prefer cost-effective open-source models available through neocloud providers. Together AI claims to have over $1.15 billion in annual bookings, highlighting the shift in the industry towards these more accessible solutions.
Rising Popularity of Neoclouds
The broader trend of neocloud investment is evident as competitors like Upscale AI and TensorWave also recently secured significant funding. The increased adoption of open-source models is attributed to the rising affordability and efficiency compared to traditional models.
Company Background
Founded in 2022, Together AI was co-founded by Vipul Ved Prakash, who previously sold Topsy to Apple. It is led by a team comprising noted professors from Stanford and ETH Zürich.
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Reporting from
Together AI raised $800 million in Series C funding, reaching an $8.3 billion valuation. The investment reflects the growing demand for AI infrastructure and open-source solutions.