Together AI Raises $800 Million, Valuation Climbs to $8.3 Billion
Alina Collins
Open-source AI cloud platform Together AI closed an $800 million Series C, doubling its valuation from $3.3 billion in February to $8.3 billion — real capital backing the bet that open-source inference is a viable business.
How did the valuation climb to $8.3 billion?
Together AI's post-round valuation hit $8.3 billion, more than doubling from $3.3 billion in February 2025 and rising over six-fold from $1.25 billion in March 2024.
This means → in roughly 16 months, the market's price tag on this company jumped more than 6×, outpacing most AI startups of the same vintage.
The round was led by Aramco Ventures, the venture arm of Saudi Aramco, with participation from Vista Equity Partners, General Catalyst, Nvidia, Salesforce Ventures, and Pegatron, among others.
What does Together AI actually sell?
Together AI runs an open-source model cloud platform — businesses can train and deploy AI workloads on models like DeepSeek, MiniMax, and Kimi at a lower cost than closed-source alternatives.
In plain terms = it doesn't build the models itself; it puts other people's open-source models on its cloud so enterprises can use them more cheaply and easily.
The company disclosed that its annualized bookings topped $1.15 billion last quarter, with customers including Cursor, Cognition, and Decagon.
Why is Saudi capital leading the round?
Aramco Ventures is the venture arm of Saudi Aramco, the world's largest oil company. This investment extends a two-year pattern of Middle Eastern sovereign capital flowing into AI infrastructure.
This means → open-source AI inference is now being priced as an infrastructure-grade asset, not just a software play.
Nvidia co-invested in the round, signaling that the chip supplier itself is betting on the scale-up potential of open-source model deployment.
How does the CEO see the future of open-source AI?
CEO Vipul Ved Prakash said: "The future of AI won't be controlled by a handful of companies — it will be built by millions of developers and enterprises."
This reflects Together AI's core wager: closed-source models like GPT and Claude won't capture the entire market; the open-source ecosystem will claim a major share.
The company plans to expand its compute and infrastructure roughly 50× over five years — whether revenue growth can keep pace with that expansion is the key test of the $8.3 billion price tag.
Content is for reference only, not financial advice.