Together AI hit $1B in annualized revenue in February 2026, up from ~$618M at the end of 2025, driven by rising demand for developer tooling and GPU capacity. The company increasingly sources GPU capacity from its own data centers (e.g., Maryland live since July 2025, Memphis forthcoming) in addition to third-party providers. Together AI positions its platform on open-source friendliness and performance guarantees, differentiating against both hyperscalers and specialist competitors.
Cyborg Score Rationale
Revenue growth from $618M (end 2025) to $1B (February 2026) demonstrates >60% quarterly growth. The company is in talks to raise approximately $1B at a $7.5B pre-money valuation as of March 2026, representing a 2.3x step-up from its prior $3.3B valuation. ~45% gross margins with expected improvement through GPU ownership signal strong unit economics amid rapid scaling.
Top Insights
API business (30–40% of revenue) provides high-margin recurring revenue; GPU rental (majority of revenue) is becoming more profitable as Together builds its own data centers rather than purely reselling third-party capacity
Launched voice platform in March 2026 co-locating speech-to-text, LLM, and text-to-speech with sub-500ms latency, featuring SOC 2 Type II, HIPAA, and zero-data-retention compliance
Partnered with Meta's PyTorch team to build open-source RL framework for agentic AI training, extending platform beyond inference into reinforcement learning workflows
Strategic investors include NVIDIA, Salesforce Ventures, and Prosperity7 (Aramco's venture arm), providing both capital and infrastructure partnerships
Lambda Labs — GPU cloud for deep learning and AI workloads
AWS — Hyperscaler with broad cloud services portfolio
Anyscale — Distributed computing framework for ML
Recent Developments
(March 2026) Launched voice agents platform with sub-500ms end-to-end latency and enterprise compliance features (SOC 2 Type II, HIPAA, zero data retention)
(March 2026) In talks to raise $1B at $7.5B pre-money valuation with Prosperity7 Ventures and other investors