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Together AI ARR: ~$1B on $1.15B of Bookings.

Together AI built a cloud around open-source models — faster inference, dedicated capacity and custom fine-tunes — and tripled its valuation in under 18 months on the way to $1.15B of annual bookings. Every reported revenue, bookings and funding number is collected below, each traced back to a public source.

~$1B

Estimated revenue, 2026

$1.15B+

Annual bookings, Jul 2026

$8.3B

Valuation, Series C Jul 2026

~500 MW

Data center capacity

The Together AI Revenue Curve.

Annualized bookings and outside revenue estimates in USD millions. Together discloses bookings rather than net ARR, so the curve mixes the two — the distinction matters.

$0M$318M$635M$953M$1.3B2022 — $0M ARRNovember 2023 — $10M ARRFebruary 2025 — $110M ARRJuly 1, 2026 — $1.1B ARR2026 estimates — $1B ARR2022Nov '23Feb '25Jul '26Jul '26
Sources: TechCrunch, Sacra, Together AI, New Market Pitch.

$0 → $110M run rate

~2.5 years

2022 founding → Feb 2025

$110M → $1.15B bookings

~17 months

Feb 2025 → Jul 2026

Valuation $3.3B → $8.3B

~17 months

Feb 2025 → Jul 2026

Total raised

$1.2B+

Through Series C, Jul 2026

Every Reported ARR Milestone.

  1. 2022

    $0M ARR

    Founded by academics from Stanford, Berkeley and the University of Washington around the open-source model ecosystem. — Company

  2. November 2023

    $10M ARR

    $102M Series A at a ~$1.25B valuation, riding demand for open-model training and inference infrastructure. — TechCrunch

  3. February 2025

    $110M ARR

    $305M Series B led by General Catalyst at a $3.3B valuation, with revenue run rate reported around $110M annualized. — TechCrunch / Sacra

  4. July 1, 2026

    $1.1B ARR

    $800M Series C led by Aramco Ventures with NVIDIA and Salesforce at an $8.3B valuation, on annual bookings exceeding $1.15B and ~500 MW of data center capacity. — TechCrunch

  5. 2026 estimates

    $1B ARR

    Outside estimates put revenue at roughly $1B — below the $1.15B bookings figure, which includes signed contracts not yet recognized as revenue. — Sacra / New Market Pitch

Together AI by the Numbers.

Annual bookings

$1.15B+

TechCrunch, Jul 2026

Estimated revenue

~$1B

Sacra / outside estimates

Valuation

$8.3B

Series C, Jul 2026

Series C

$800M

TechCrunch, Jul 2026

Total raised

$1.2B+

Crunchbase

Data center capacity

~500 MW

TechCrunch, Jul 2026

Founded

2022, San Francisco

Company

CEO

Vipul Ved Prakash

Company

How Token Inference and Dedicated GPUs Bill Out.

Together monetizes open-source and custom models three ways: serverless inference APIs billed per token, dedicated GPU capacity for large customers, and training/fine-tuning services. The pitch to enterprises is cost — running open models on Together's optimized stack is marketed as significantly cheaper than closed frontier-model APIs, which is what pulled in enterprise demand for the $1.15B of annual bookings cited at the July 2026 Series C.

The bookings-versus-revenue gap is the number to watch. The $1.15B figure counts signed contracts booked annually; outside estimates put recognized revenue at roughly $1B. Behind both sits heavy capex — roughly 500 MW of data center capacity and an $800M Series C led by Aramco Ventures with NVIDIA and Salesforce, nearly tripling the $3.3B valuation set just 17 months earlier.

Revenue Mix

  • Inference APIsPer-token serverless serving of open and fine-tuned models, the volume engine.
  • Dedicated capacityReserved GPU deployments under multi-year enterprise contracts — the bookings driver.
  • Training & fine-tuningCustom model development and optimization services for enterprise clients.

FAQ

Together AI Revenue, Answered.

What Is Together AI's ARR in 2026?
Together AI reported annual bookings exceeding $1.15 billion at its July 2026 Series C. Outside estimates place actual revenue at roughly $1 billion — the gap reflects signed bookings not yet recognized as revenue, which is why the figure is classified as Reported rather than Disclosed.
How Fast Did Together AI Grow?
From a run rate reported around $110M annualized at its February 2025 Series B to $1.15B of annual bookings by July 2026 — roughly a 10x increase in about 17 months, with the valuation tripling from $3.3B to $8.3B over the same period.
How Much Has Together AI Raised?
Over $1.2 billion: a $102M Series A in November 2023 at ~$1.25B, a $305M Series B led by General Catalyst in February 2025 at $3.3B, and an $800M Series C led by Aramco Ventures with NVIDIA and Salesforce in July 2026 at $8.3B.
Bookings vs Revenue — What's the Difference Here?
Bookings ($1.15B+) is the annualized value of signed customer contracts. Revenue (~$1B by outside estimates) is what is actually recognized. Together leads with bookings; the distinction is why its revenue figure carries a Reported tier and an explicit basis note.
How Does Together AI Make Money?
Per-token serverless inference APIs for open and custom models, dedicated GPU capacity sold under multi-year enterprise contracts, and training/fine-tuning services. Roughly 500 MW of data center capacity underpins the offering, positioning Together as the cost-efficient open-model cloud.

Running Open Models? Get Paid Like Together Does.

Serverless tokens, dedicated GPUs and training services on one invoice. Clink meters each, manages the plans and handles merchant-of-record tax.

Monetize Inference APIs→