Together AI, an artificial intelligence neocloud that rents out Nvidia GPU clusters and other infrastructure, has announced a $800 million Series C funding round, valuing the company at $8.3 billion.

The news comes after Together AI's last funding round in 2023, where it secured a $305 million Series B valuation at $3.3 billion. The company was co-founded by Vipul Ved Prakash, who sold his previous startup Topsy to Apple for over $200 million.

This latest investment comes as more and more companies are turning towards open source models via neocloud providers like Together AI, finding them a cost-effective alternative to paying high premiums on tokens for closed frontier models. Annual bookings for the company have tripled in the last year, according to their own figures.

Other neoclouds have also been attracting VC investment, with Upscale AI and TensorWave both raising significant funding recently. With such a hefty injection of cash, Together AI is poised to make waves in the tech landscape.