Together AI, an artificial intelligence cloud startup that has received backing from Nvidia (NVDA), is in pursuit of $1B in a new funding round, according to The Information.
The San Francisco-based company is currently valued at $7.5B, the report said. Together AI, founded in 2022, is already generating about $1B in annualized revenue, a figure that has nearly tripled in less than one year. The company leases Nvidia chip servers and then rents them out to AI developers. It also buys some servers for its data centers. This new round of funding is mostly for that purpose, according to people familiar with the issue.
The company has raised a total of $554M across five funding rounds, which included investments from notable tech companies such as Nvidia and Salesforce Ventures (CRM).
“To support our rapidly growing ecosystem, we’re dramatically expanding our infrastructure,” Together AI said. “We’ve secured 200 MW of power capacity and are deploying optimized clusters of NVIDIA Blackwell GPUs across multiple North American data centers. Our recent partnership with Hypertec to co-build a cluster of 36,000 NVIDIA GB200 NVL72 GPUs further strengthens our position as the leading AI Cloud provider.”
It is similar to other so-called neoclouds such as Lambda, CoreWeave (CRWV), and Nebius (NBIS).