Together AI raised $800 million in Series C: Aramco and Nvidia valued the company at $8 billion

Together AI closed a Series C funding round of $800 million in July 2026, led by Aramco Ventures — the investment division of Saudi Aramco. The company's valuation exceeded $8 billion, and its annual revenue, according to the company itself, has surpassed $1 billion.

Who Invested and Why

The Series C round attracted investors from various sectors and regions — financial PE funds, Middle Eastern oil capital, technology strategists, and Silicon Valley venture capital funds:

• $800 million — the size of the Series C round
• Over $8 billion — the company's valuation at the time of round closing
• Over $1 billion — Together AI's annual revenue at the time of deal closing
• Round leader: Aramco Ventures (the investment division of Saudi Aramco)
• Co-investors: Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia, March Capital, Pegatron, SentinelOne's S Ventures

Nvidia's participation is no coincidence: the GPU manufacturer systematically invests in companies that create cloud demand for accelerators. The more Together AI attracts corporate clients to work with open-source models in the cloud, the higher the demand for GPUs — a direct benefit for Nvidia.

Vista Equity Partners — one of the largest American PE funds in the technology sector — specializes in companies with stable subscription revenue. Their entry into the deal signals that Together AI is now perceived by the market not as a startup experiment, but as a mature technology business with predictable cash flow.

Aramco Ventures as the round leader reflects a broader geopolitical trend: Persian Gulf states view AI infrastructure as a strategic asset. Saudi Arabia, as part of its Vision 2030 program, is actively diversifying its economy away from oil revenues — and Together AI has become one of the largest direct investments from the region in Western AI infrastructure.

Why Is Open-Source Cloud Reaching $1 Billion?

Together AI specializes in cloud-based deployment of open language models — Llama from Meta, Mistral, Falcon, DeepSeek, and others. The platform provides API access to these models without the need to deploy your own GPU clusters, maintain hardware, or manage infrastructure.

The business model is built on positioning against hyperscalers. AWS, Azure, and Google Cloud primarily promote their own proprietary AI systems. Together AI offers an alternative: a choice of open models in a managed environment, without lock-in to a single vendor and without the risk of transferring sensitive data to competitors' closed systems.

By mid-2026, open-source AI models have ceased to be the domain of researchers and technical startups. Large corporations — banks, insurance companies, industrial enterprises — are actively deploying open models to work with internal data. The main obstacle in this path is infrastructure: setting up GPU clusters, managing drivers, monitoring, and security. Together AI removes this obstacle by offering a managed environment where clients pay for compute rather than for hardware operation.

The revenue growth to $1 billion confirms: the corporate market is willing to pay sustainably and at scale for such flexibility.

What This Means

Together AI's $800 million round at an $8 billion valuation is one of the largest for AI infrastructure companies in 2026. The diversified composition of investors from different regions and sectors — from oil-based Riyadh to Taiwan-based electronics manufacturer Pegatron — speaks to the company's global ambitions. For the market, this is a clear signal: an independent open-source cloud layer is transforming into a full-fledged multi-billion-dollar B2B segment — and Together AI is today one of the main beneficiaries of this trend.

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