Together AI Raises $800M at $8.3B Valuation Led by Saudi Aramco Ventures

Aramco Ventures Leads Together AI's Series C

Together AI said on Wednesday that it has raised 800 million dollars in a funding round led by Aramco Ventures, more than doubling the artificial intelligence infrastructure startup's valuation to 8.3 billion dollars. The round also drew participation from Vista Equity Partners, General Catalyst, Emergence Capital, Nvidia, Salesforce Ventures, March Capital, Pegatron, and SentinelOne's S Ventures, giving the company a broad base of strategic and financial backers.

Founded in 2022, Together AI's platform lets companies train and run AI workloads on open models such as DeepSeek, MiniMax, and Kimi at lower cost than closed systems. The company said it would use the new funding to widen its offerings as it expands further into inference, the process of running already trained AI models in production.

Why the Aramco Angle Matters for the Gulf

Aramco Ventures leading the round is the detail that will draw the most attention across the region. It places Saudi Arabia's national oil company, through its venture arm, directly inside the capitalisation table of one of the fastest growing open source AI infrastructure providers in the world, at a moment when Saudi Arabia's broader technology diversification push is actively courting frontier AI capability as part of its economic transformation agenda. It also mirrors a wider pattern of Gulf capital moving from AI adjacent sectors such as energy and logistics into direct equity positions in AI infrastructure companies themselves, rather than simply purchasing compute or licensing models as customers.

A Sharp Valuation Jump in a Short Window

The new valuation represents a significant jump from the 3.3 billion dollars Together AI was valued at in a February 2025 round led by General Catalyst, which had itself more than doubled the company's earlier 1.25 billion dollar valuation from March 2024. Together AI said its annual bookings crossed 1.15 billion dollars last quarter, driven by rising use of open source models, and counts firms including Cursor, Cognition, and Decagon among its customers. The company expects its computing capacity and infrastructure to expand roughly fiftyfold over the next five years, a scale of expansion that will require exactly the kind of long term, strategically aligned capital that Aramco Ventures and its co-investors are now providing.

Open Source Infrastructure as a Gulf Investment Thesis

For enterprise technology buyers and investors across the GCC, the deal is a useful marker of where sovereign and quasi-sovereign capital sees durable value in the AI stack. Rather than betting solely on closed frontier labs, Aramco Ventures' participation signals confidence in the open model ecosystem as a parallel, lower-cost track for enterprise AI adoption.Regional enterprise buyers evaluating cloud and infrastructure options are likely to weigh this approach more seriously as open-source inference costs continue to fall relative to proprietary alternatives.