Together AI on Wednesday said it has raised $800 million in a funding round led by Aramco Ventures TADAWUL:2222, more than doubling the artificial intelligence startup's valuation to $8.3 billion.
Founded in 2022, the startup's platform lets companies train and run AI workloads on open models such as DeepSeek, MiniMax and Kimi at lower costs than closed systems.
Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia NASDAQ:NVDA, Salesforce Ventures NYSE:CRM, March Capital, Pegatron and SentinelOne's NYSE:S S Ventures participated in the Series C round.
Together AI was valued at $3.3 billion in a February 2025 funding round led by General Catalyst, which had more than doubled its earlier $1.25 billion valuation from March 2024.
The company said it would use the Series C funding to widen its offerings as it expands into a provider of inference, which is the process of running trained AI models.
"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,” Together AI CEO Vipul Ved Prakash said.
The AI startup's annual bookings crossed $1.15 billion last quarter on the back of rising open-source model usage, the company said. It counts firms such as Cursor, Cognition and Decagon among its customers.
Together AI expects its computing capacity and infrastructure to expand roughly 50-fold over the next five years.