Together AI raises $800M Series C at $8.3 billion valuation, establishing itself as leading frontier AI infrastructure provider.
Together AI, which makes open-source AI models dramatically cheaper and easier to run at scale, has announced an $800 million Series C financing at an $8.3 billion post-money valuation. The round was led by Aramco Ventures, with participation from Vista Equity Partners, General Catalyst, Emergence Capital, NVIDIA, March Capital, Pegatron, and S Ventures (SentinelOne).
Companies building with AI face a stark reality: frontier-model pricing can consume their entire margin. Together AI has positioned itself as the infrastructure alternative, helping organizations train and deploy workloads on open models—DeepSeek, Nemotron, MiniMax, and Kimi—at a fraction of closed-system costs with comparable or superior performance. The company operates one of the leading AI research labs and has focused on pushing inference efficiency and performance for demanding applications.
"Intelligence is becoming a foundational resource for the modern economy, every bit as essential as electricity, bandwidth or capital," said Vipul Ved Prakash, co-founder and CEO. "Our mission is to ensure that intelligence is abundant, not expensive. 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's annual bookings exceeded $1.15 billion last quarter as open-source model adoption across the industry tripled year-over-year. The company serves thousands of paying customers, including Cursor, Cognition, and Decagon. Customers report cost savings of 6x to 60x compared to closed-model pricing for equivalent or better performance—Decagon, for instance, cut inference costs sixfold after migration. McKinsey reports that nearly three-quarters of organizations plan to increase open-source AI usage.
The new capital will expand product offerings and scale capacity and infrastructure, with plans to grow infrastructure roughly 50-fold over five years.
"Building AI infrastructure over the next decade will be the biggest infrastructure project in human history," said Abhishek Shukla, Managing Director of Prosperity7 Ventures US at Aramco Ventures. "Together has built the platform that makes open source models genuinely usable at enterprise scale. We're proud to partner with them on scaling compute and capacity globally."
Prakash added: "History shows that the biggest technology shifts are won by open ecosystems that make innovation cheaper, faster and available to everyone. We believe AI will follow the same path."
Meshal Almashari, Executive Managing Director of Aramco Ventures' Late-Stage Venturing Program, noted: "Our investment reflects our long-term conviction in artificial intelligence infrastructure and the platforms enabling AI deployment at scale. It demonstrates the strength of our multi-stage platform supporting companies from early growth through scale-up as they evolve into global leaders."
"AI and energy infrastructure are converging, and efficiency is the link between them," said Olivier Blum, CEO of Schneider Electric, investing through its SE Ventures fund. "Together AI has built a platform that makes open-source AI genuinely cost-effective at enterprise scale. More efficient AI means less energy per workload, exemplifying how the digital and energy transitions reinforce each other."
Joe Floyd, General Partner at Emergence Capital, added: "The shift toward open source isn't a niche preference anymore—it's becoming the default for companies wanting to scale AI without eroding margins. Together has the team, infrastructure, and customer base to lead that shift."
Founded in 2022, Together AI combines state-of-the-art open-source models, high-performance infrastructure, and frontier research in AI efficiency and scalability. The company powers over one million developers and delivers production-scale inference, training, and reinforcement learning for AI-native enterprises.