Together AI Raises $800M Series C at $8.3B Valuation to Scale Open-Source AI Cloud
Summary: Together AI announced an $800 million Series C on July 1, 2026, valuing the San Francisco-based AI neocloud at $8.3 billion—more than double its previous valuation—as demand for open-source AI infrastructure surges.
Key Points
- Round led by Aramco Ventures; co-investors include Vista Equity Partners, General Catalyst, NVIDIA, Emergence Capital, March Capital, Pegatron, and SentinelOne's S Ventures
- Annual bookings surpassed $1.15 billion last quarter; open-source model usage across the industry tripled in 12 months
- Together AI rents Nvidia GPU clusters and serves open models (DeepSeek, Nemotron, MiniMax, Kimi) at a fraction of closed-system cost; key customers include Cursor, Cognition, and Decagon
- Plans to expand computing infrastructure roughly 50-fold over the next five years with the new capital
Why It Matters
The $1.15 billion booking run rate demonstrates that enterprise demand for open-source AI infrastructure is scaling as fast as the closed-model market. As OpenAI and Anthropic dominate benchmark headlines, Together AI's numbers show a large cohort of companies that prefer lower-cost open models with full data control—a market thesis NVIDIA's direct participation in the round implicitly validates.
Read More
- Neocloud Together AI raises $800M, leaps to $8.3B valuation — TechCrunch
- Together AI Raises $800 Million at $8.3 Billion Valuation — BusinessWire