Together AI: $800M Funding for Open-Source AI Models

Together AI has raised an additional $800 million, bringing its valuation to $8.3 billion. This new funding will help the company expand its products and infrastructure. Here's the thing: Together AI's platform allows companies to use open-source models that can match or exceed the performance of more expensive closed models. The company reports that its annual bookings topped $1.15 billion last quarter, and it now serves thousands of paying customers. One customer even cut their inference costs sixfold after switching to Together AI. What's interesting is the industry's use of open-source models has tripled in the last year. Together AI's co-founder and CEO, Vipul Ved Prakash, states their mission is to make intelligence abundant, not expensive, believing the future of AI will be built by many developers and businesses using open-source models. The funding round was led by Aramco Ventures. This matters because it highlights a growing trend towards more accessible and cost-effective AI solutions.