Together AI, a company that provides access to open-source artificial intelligence models, has raised $800 million in fresh funding, according to reporting compiled by Techmeme from the New York Times' Niko Gallogly.
The round was led by Prosperity7, a venture fund tied to Saudi Aramco, the Saudi state oil giant. It values the company at $8.3 billion and brings Together AI's total funding to $1.3 billion.
The jump is steep. TechCrunch, which describes Together AI as an "AI neocloud" provider specializing in hosting open-source models, notes the company last raised money at a $3.3 billion valuation in early 2025. That means its valuation has more than doubled in roughly a year and a half.
According to PYMNTS.com, Together AI plans to use the money to scale up cheaper open-source models.
Why the interest? Most attention in AI has gone to closed, proprietary systems from the largest labs. Together AI bets on the opposite approach: giving developers and businesses access to open-source models they can run and customize, often at lower cost. A "neocloud" is a newer breed of cloud provider built specifically to deliver the heavy computing power that AI workloads demand, competing with traditional cloud giants.
The identity of the lead investor is also notable. Prosperity7's backing signals continued appetite from Gulf state-linked capital to buy into the AI infrastructure boom.
Why it matters: the raise shows investors are pouring serious money not just into the AI models themselves, but into the companies racing to make those models cheaper and easier for everyone else to use.