Together AI Targets $7.5 Billion Valuation as It Scales NVIDIA Blackwell Clusters

Together AI, the "AI-native" cloud startup that has become a critical ally to NVIDIA, is reportedly in advanced discussions to raise approximately $1 billion in new funding. This latest round is expected to value the company at a staggering $7.5 billion, representing a more than 2x jump from its $3.3 billion valuation set just over a year ago.

The capital injection comes as Together AI transitions from a niche provider of open-source model infrastructure to a heavy-hitter in the global GPU rental and inference market.

1. The $1 Billion Revenue Rocket
The most striking detail of the $7.5 billion valuation is the company’s explosive revenue trajectory. According to internal reports and investor briefings:

Triple Growth: Together AI is now generating roughly $1 billion in annualized revenue, a figure that has tripled since mid-2025.

Diversified Income: The business is split between GPU server rentals (private cloud) and its API business, where developers run open-source models like Llama and Mistral via Together’s endpoints.

Enterprise Momentum: The company now serves over one million developers and thousands of enterprise customers, including Salesforce, Zoom, and The Washington Post.

2. Doubling Down on NVIDIA Blackwell
Together AI’s strategy relies on securing the most advanced silicon before its competitors. The company has moved beyond simply "leasing and re-renting" and is now building out its own massive physical footprint.

Blackwell Deployment: Together AI is currently deploying NVIDIA Blackwell GPU clusters, specifically the GB200 NVL72 and HGX B200 systems. These are housed in the company’s new proprietary data centers in Maryland, Memphis, and Sweden.

FlashAttention-4 Breakthrough: Coinciding with the funding news, Together AI announced FlashAttention-4, a software optimization that makes AI training up to 1.3x faster than NVIDIA’s own cuDNN on Blackwell architecture.

Power Capacity: To support these power-hungry chips, the startup has secured 200 MW of power capacity across North America, ensuring it can scale its "AI Factory" model through 2027.

3. The "NVIDIA Cloud Ally" Strategy
NVIDIA’s role in this growth cannot be overstated. As a strategic investor, NVIDIA has granted Together AI preferential access to its latest hardware, effectively using the startup as a "pressure valve" to satisfy the massive demand for GPUs that traditional hyperscalers (like AWS or Azure) cannot always meet.

Lowering the "GPU Tax": By bundling specialized AI development tools with its compute, Together AI is able to offer GPU access roughly 80% cheaper than traditional cloud providers, maintaining a gross margin of approximately 45%.

Diamond Sponsorship: Together AI is a Diamond Sponsor at NVIDIA GTC 2026 this week, where it is showcasing its "Self-Service GPU Clusters" which allow startups to spin up thousands of H100s or B200s in minutes rather than months.

4. Leadership and Investor Lineup
The funding round is reportedly seeing interest from Prosperity7 (the venture arm of Aramco) alongside previous backers like General Catalyst, Kleiner Perkins, and Salesforce Ventures.

Under the leadership of CEO Vipul Ved Prakash, Together AI has positioned itself as the primary infrastructure choice for the "Open Source" movement. By providing the literal silicon that powers models like Llama 4, Together AI is betting that the future of AI will not be owned by a single closed-source company, but by the distributed network of intelligence factories it is currently building.