Together AI Raises $800 Million at $8.3 Billion Valuation

Together AI said on 1st July that it has raised $800 million in a Series C funding round led by Aramco Ventures, more than doubling the startup's valuation to $8.3 billion as demand surges for platforms that let companies run artificial intelligence workloads on open-source models.

The round included Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia, Salesforce Ventures, March Capital, Pegatron, and SentinelOne's S Ventures. The new valuation is a steep climb from the $3.3 billion the company was worth in February 2025 and the $1.25 billion it commanded in March 2024.

Founded in 2022, Together AI offers a platform where businesses can train and run AI models such as DeepSeek, MiniMax, and Kimi at lower costs than closed systems. Chief executive Vipul Ved Prakash framed the company's growth around a bet that open-source AI will define the market. "The future of AI won't be owned by a few companies. It will be built by millions of developers and businesses, and open-source models are making that possible," he said.

The startup's annual bookings crossed $1.15 billion last quarter, driven by rising open-source model usage. Its customer base includes AI coding platform Cursor, enterprise AI firm Cognition, and customer support automation company Decagon.

Together AI plans to use the new funding to expand into inference, the process of running trained AI models in production, a segment that has become a focal point for infrastructure providers as enterprises shift from experimenting with AI to deploying it at scale. The company expects its computing capacity and infrastructure to expand roughly 50-fold over the next five years.

The round, anchored by Saudi Aramco's venture arm, brings together an unusually broad group of investors from chipmaking, software, and manufacturing, showing that the battle for AI infrastructure is drawing in players well beyond traditional Silicon Valley venture capital.