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AI Cloud Startup Applied Compute Raises $350M After Reaching Revenue Milestone
Applied Compute raises $350 million at a $3.25 billion valuation, led by angel investor Elad Gil.
Key points
- Applied Compute said its annualized recurring revenue has topped $100 million.
- The company counts Microsoft Corp. and DoorDash Inc. among its customers.
- Its platform offers training, inference and a model router called Shift-1.
Why it matters. The company says it will use the new capital to grow its market presence and buy more infrastructure, as it builds AI tools for companies that need to run their own models.
Applied Compute Inc., a provider of AI infrastructure, announced on Monday that it raised $350 million at a $3.25 billion valuation. Angel investor Elad Gil led the round, joined by Nvidia Corp., Shopify Ventures and HubSpot Ventures. The company, which launched less than 18 months ago, said its annualized recurring revenue has topped $100 million.
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AI Cloud Startup Applied Compute Raises $350M After Reaching Revenue Milestone
Applied Compute Inc., a provider of artificial intelligence infrastructure, has raised $350 million. The funding follows the company reaching a key revenue milestone. The source reports a valuation for the company but the figure is not included in the available text. Further details on investors and the use of the funds were not included in the source.