Together AI Valued at $3.3 Billion as Corporate Demand for AI Surges

(Bloomberg) — Together AI, a startup offering users access to artificial intelligence computing, has secured $305 million in funding led by General Catalyst, elevating its valuation to $3.3 billion. This significant investment underscores the robust corporate demand for AI technologies. The funding round also included participation from Saudi Arabia’s Prosperity7 Ventures, Salesforce Ventures, Nvidia Corp., Kleiner Perkins, Emergence Capital, Lux Capital, Coatue Management, and other investors.

Together AI’s platform enables developers to access open-source AI models and the necessary compute power to build AI applications. “We provide a very end-to-end service,” said Chief Executive Officer Vipul Ved Prakash. “This includes data centers and computing clusters from Nvidia, and the software layers and platform services.” The result allows Together’s customers to “get up and running really quickly,” he added.

As demand for AI grows in the corporate sector, Together AI is experiencing rapid expansion. The startup recently surpassed $100 million in annualized revenue, up from $30 million in February 2024. Customers can utilize over 200 open-source models via Together AI’s platform, including those from Meta Platforms Inc. and Chinese AI startup DeepSeek.

“We do believe that this technology should be developed in the open, transparently. This is really a fundamental tool for humanity,” Prakash said in a Bloomberg Television interview. Together AI plans to deploy Nvidia’s Blackwell GPU’s in its data centers, leveraging the hardware for its services.

The latest valuation represents a substantial increase from Together AI’s $1.25 billion valuation in March 2024. The company intends to use the new funding to double its workforce of 160 by the end of 2025.