Artificial intelligence startup Together AI announced Wednesday that it has closed an $800 million funding round led by Aramco Ventures, sending the company’s valuation soaring to $8.3 billion — more than double its previous worth.
The company, which was established in 2022, operates a platform that allows businesses to train and run AI workloads using open-source models — including DeepSeek, MiniMax and Kimi — at a fraction of the cost compared to closed AI systems.
The Series C round drew participation from a wide range of investors, including Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia, Salesforce Ventures, March Capital, Pegatron and SentinelOne’s S Ventures.
Together AI’s valuation has climbed rapidly in a short period. The company was valued at $3.3 billion as recently as February 2025 in a round led by General Catalyst — itself more than double the $1.25 billion valuation the startup carried in March 2024.
The company says the new capital will be used to broaden its services as it moves further into the inference space — the technical term for the process of actually running trained AI models in real-world applications.
Together AI CEO Vipul Ved Prakash shared his vision for the future of the industry, saying: “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.”
The startup reported that its annual bookings topped $1.15 billion last quarter, driven by growing demand for open-source AI models. Among its customer base are companies such as Cursor, Cognition and Decagon.
Looking ahead, Together AI expects its computing capacity and overall infrastructure to expand by approximately 50 times its current size over the next five years.
