Together AI, the open-source AI infrastructure platform, closed an $800 million Series C at $8.3 billion post-money valuation on July 1, 2026, more than doubling its valuation from $3.3 billion a year ago. Aramco Ventures led the round, with participation from Vista Equity Partners, General Catalyst, Emergence Capital, NVIDIA, Pegatron, and others. Annual bookings crossed $1.15 billion last quarter; the company serves thousands of paying customers including Cursor, Cognition, Decagon, and Eleven Labs.
Notably, Together AI secured commitments for over 500 megawatts of independently capitalized compute capacity, with a strategy to expand infrastructure footprint roughly 50-fold over five years. The round reflects investor confidence in open-source model economics as production infrastructure, not as a cost hack. Together's full-stack platform—models (DeepSeek, Nemotron, MiniMax, Kimi), kernels, compilers, inference systems—enables customers to reduce inference costs 6x–20x versus closed-system providers like OpenAI and Anthropic.
For practitioners: this is a major validation that enterprise is moving inference workloads to open models at scale. The $500 MW compute commitment de-risks capacity scaling and allows Together to absorb demand spikes without direct capex. At $8.3B post-money on $1.15B bookings, the company is being valued on inference TAM expansion and open-model market share capture. Watch whether 500 MW can absorb bookings growth; if it fills too quickly, the $800M will be stretched and the valuation thesis tested.