Together AI Deal Closed

We Just Invested in Together AI

UpRound closed its third late-stage deal this quarter, Together AI, the leading open-source AI infrastructure platform.

Together AI runs every major open-source model on a single platform. Llama, DeepSeek, Qwen, Kimi, GLM, Mistral. American and Chinese models, side by side, on the same GPUs. The company crossed $1B in annual revenue in February, serves 850,000+ developers, and processes trillions of tokens daily.

Co-investors include NVIDIA, General Catalyst, Kleiner Perkins, and Salesforce Ventures.

Why this deal matters

We have written extensively about open-source AI infrastructure as the defining investment category of this cycle. Together AI is the highest-conviction expression of that thesis in our portfolio.

The model race is accelerating on both sides. Chinese open-source models went from 1.2% of global usage to 30% in twelve months. Western labs are shipping faster than ever. Every new model from either ecosystem is incremental demand for the infrastructure companies powering them.

Together AI sits at the center of that demand. Their research team invented FlashAttention, the most widely adopted inference optimization in the industry. They run models up to 2.75x faster than competing providers. And they are transitioning to owned data centers with a 750MW North America buildout planned for 2026.

Portfolio update

This brings our total closed deals to five, executing both sides of our barbell strategy. High-growth early stage companies for outsized returns, and scaled institutional-grade companies like Together AI for stability and proven momentum.

Bashar Aboudaoud
Managing Member, UpRound

See our deals at syndicate.upround.xyz