Neocloud Together AI raises $800M, leaps to $8.3B valuation

Together AI, a neocloud provider specializing in open-source artificial intelligence models, has raised $800 million in a Series C funding round, bringing its valuation to $8.3 billion. The company announced the funding on Wednesday. Together AI reported that its usage of open-source models across the industry has tripled over the past year.

The round was led by new investors, with participation from existing backers, according to the announcement. The company plans to use the capital to expand its cloud infrastructure and support growing demand for open-source AI workloads. Together AI positions itself as a flexible alternative to larger cloud providers, offering access to a variety of open models.

The funding comes amid a broader boom in AI infrastructure investment, with several neocloud startups attracting significant capital. Together AI's valuation reflects investor confidence in the open-source AI ecosystem, though the company faces competition from major cloud platforms and other specialized providers. The tripled usage metric signals increasing adoption of open models, though the company did not disclose specific revenue figures.