Together AI raises $800 million, valuation jumps to $8.3 billion

Together AI raised $800 million and hit an $8.3 billion post-money valuation. The San Francisco company said the Series C was led by Aramco Ventures and backed by Vista Equity Partners, General Catalyst, Emergence Capital, NVIDIA, March Capital, Pegatron and S Ventures, the SentinelOne-backed fund.

Founded in 2022, Together AI has built its business around letting companies train and run AI workloads on open models including DeepSeek, MiniMax, Kimi and Nemotron. The company is moving further into inference services, the process of running trained AI models, as demand grows for cheaper and more flexible alternatives to proprietary systems.

Together AI was valued at $1.25 billion in March 2024, then $3.3 billion in February 2025 after a $305 million Series B led by General Catalyst and co-led by Prosperity7. The new round more than doubles that figure and gives the company a valuation more than six times higher than its mark just over two years ago.

Together AI says its annual bookings crossed $1.15 billion last quarter and that open-source model usage across the industry has tripled over the past 12 months. It also says customers report savings of 6x to 60x versus closed-model pricing for similar or better performance.

Vipul Ved Prakash, Together AI’s chief executive, says the company’s rise is part of a broader shift toward cheaper open-source AI infrastructure, while Prosperity7 Ventures executive Abhishek Shukla says AI infrastructure is one of the biggest buildouts ahead. Together AI expects its computing capacity and infrastructure to expand roughly 50-fold over the next five years.