Applied Compute, an AI startup founded by former OpenAI researchers, is in talks to raise a new funding round at a valuation of roughly $3 billion, according to The Information, which cited people familiar with the matter. That valuation would be more than double what the company was worth when it announced its last funding round four months ago. The startup helps enterprises run and customize open-source models using their own proprietary data. The funding discussions come as the company has seen strong recent revenue growth. Sources said Applied Compute's current annualized revenue stands at about $50 million, nearly four times the level its CEO Yash Patil indicated last November. Investor Elad Gil is in talks to lead the round, which is expected to bring in several hundred million dollars. It is not yet clear whether the reported valuation includes the new capital injection. The round has not been finalized, and specific terms could still change.
Applied Compute, an AI startup founded by former OpenAI researchers, is negotiating a new funding round at a valuation of around $3 billion, according to The Information citing people familiar with the matter. That would more than double the valuation it carried when it announced its previous round four months ago.
The company's business is helping enterprises run and customize open-source models using their own data. The funding talk follows a period of strong revenue growth. Sources said Applied Compute's annualized revenue now sits at about $50 million, nearly quadruple the level CEO Yash Patil reported last November.
Investor Elad Gil is in talks to lead the round, which could raise several hundred million dollars. Whether the $3 billion figure includes fresh capital remains unclear. The deal is not yet finalized, and terms may shift.
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