Together AI said on Wednesday it has closed an $800 million Series C financing round led by Aramco Ventures, a deal that more than doubles the artificial intelligence firm's valuation to $8.3 billion.
Launched in 2022, Together AI offers a platform that enables companies to train and operate AI workloads using open models such as DeepSeek, MiniMax and Kimi, positioning itself as a lower-cost alternative to closed systems.
The Series C brought participation from a range of investors including Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia, Salesforce Ventures, March Capital, Pegatron and SentinelOne’s S Ventures. Together AI said it will direct the new capital toward widening its product set while moving further into inference - the runtime process of executing 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.
Financial indicators offered by the company underscore rapid growth. Together AI reported that annual bookings exceeded $1.15 billion in the last quarter, a figure the company tied to increased usage of open-source models. The startup counts customers including Cursor, Cognition and Decagon.
The new valuation represents a sizable jump from the $3.3 billion valuation Together AI received in a February 2025 funding round led by General Catalyst. That February figure itself had topped the earlier $1.25 billion valuation recorded in March 2024.
Alongside product expansion, Together AI provided an operational forecast: the company expects its computing capacity and infrastructure to grow by roughly 50-fold over the next five years.
Taken together, the funding round and the company's performance metrics indicate both investor confidence and an aggressive scaling plan focused on inference and infrastructure. The participation of strategic investors and technology companies signals support for open-model approaches and for platforms that promise cost efficiencies relative to closed AI systems.
While Together AI framed the new capital as a means to broaden product offerings and service capabilities, the company also highlighted the commercial momentum it has gained from rising open-source model adoption and a high level of bookings.