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Investing.com -- Together AI, a startup that provides users with access to artificial intelligence computing, has successfully raised $305 million from a group of investors, according to a Thursday report by Bloomberg. The funding round was led by General Catalyst, and it has increased the company's valuation to $3.3 billion, reflecting the ongoing robust corporate demand for AI.
Alongside General Catalyst, Prosperity7 Ventures, the investment arm of Saudi Arabia, co-led the funding round. Other investors included Salesforce (NYSE:CRM) Ventures, Nvidia Corp . (NASDAQ:NVDA), Kleiner Perkins, Emergence Capital, Lux Capital, among others.
Together AI's platform offers developers the ability to access open-source AI models and the necessary computing power to create AI applications. According to Chief Executive Officer Vipul Ved Prakash, the company provides a comprehensive service that includes data centers and computing clusters from Nvidia, as well as the software layers and platform services. As a result, Together AI's customers can quickly initiate their operations.
The company has been experiencing rapid growth recently. The Bloomberg report claims that the startup's annualized revenue has crossed $100 million. This is a significant increase from the $30 million in annualized revenue it reported in February 2024.
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