Together AI Raises $800 Million to Scale Cheaper Open-Source Models

Together AI raised $800 million in a Series C funding round to expand its infrastructure layer that helps companies run open-source artificial intelligence (AI) models at scale.

The round valued the company at $8.3 billion, according to a Wednesday (July 1) press release.

Together AI was previously valued at $3.3 billion in a February 2025 Series B funding round in which it raised $305 million.

Companies can use Together AI’s infrastructure layer to train and run workloads on open models that can deliver performance comparable to or better than closed models, at a fraction of the cost, according to the release.

The industry’s usage of open-source models has tripled over the last 12 months, and Together AI’s annual bookings topped $1.15 billion last quarter, the release said.

Together AI now serves thousands of paying customers. One reported that after moving to Together AI, it cut its inference costs sixfold, per the release.

With the new funding, Together AI will expand its products and features as well as scale its capacity and infrastructure footprint.

In a Wednesday blog post, Together AI Co-Founder and CEO Vipul Ved Prakash said that in addition to the equity capital, the company secured commitments for over 500 megawatts of compute capacity that will be capitalized independently by investors to support its expected growth.

In the company’s press release, Prakash said: “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.”

The company’s latest funding round was led by Aramco Ventures.

Abhishek Shukla, managing director of Aramco Ventures’ diversified venturing program, Prosperity7 Ventures US, said in the release that the firm’s partnership with Together AI is part of its effort to scale compute and capacity globally.

“Together AI has built the platform that makes open-source models genuinely usable at enterprise scale, and the team’s ambition matches the scale of the opportunity in front of them,” Shukla said.

It was reported in June that companies that encouraged their employees to use AI tools when the costs were lower are now using a variety of methods to cut back, including the adoption of open-source models.