Together AI raises $800 million, doubling its valuation to $8.3 billion

Together AI, an artificial intelligence startup focused on infrastructure for running open-source AI models, has raised $800 million in a Series C funding round led by Aramco Ventures, more than doubling its valuation to $8.3 billion. The funding, announced on July 1, 2026, includes participation from major investors such as Nvidia, Vista Equity Partners, General Catalyst, and Emergence Capital, signaling strong conviction in the shift toward affordable, open-weight AI as businesses increasingly hesitate due to escalating costs of proprietary systems. This investment underscores a critical trend where open-source models from China are proving nearly as effective as those from U.S. labs, positioning Together AI as a leading provider of inference services that make frontier AI dramatically cheaper and easier to access at scale. The company will use the capital to expand its products and features while securing commitments for over 500 megawatts of compute capacity to support its expected growth in the open-source AI infrastructure market.