Briefs · Entrepreneurship
Together AI just raised $800 million to rent out the future
Together AI has raised $800 million at an $8.3 billion valuation, and the cloud, it turns out, is not a place but a landlord.
The Series C, led by Aramco Ventures with Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia and others, values the neocloud at more than two and a half times its $3.3 billion Series B, raised just 16 months earlier. Annual bookings have crossed $1.15 billion.
The business is gloriously unglamorous: rent out Nvidia GPU clusters so companies can run open-source models without paying frontier-model prices. Usage of open-source models has tripled across the industry in the past year, Together AI says, as firms discover that good enough, far cheaper, is very good indeed.
Founded in 2022, the company counts Cursor, Cognition and Decagon among its thousands of paying customers.
Conclusion: Together AI is not selling intelligence, but rather the electricity that runs it, and the meter is spinning fast and furious.
Read the original at TechCrunch
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