AI startup Applied Compute is in talks for new financing, valuation expected to reach $3 billion

TechFlow news, August 11, according to sources cited by The Information, Applied Compute, an AI startup founded by former OpenAI researchers, is negotiating a new round of financing, with a valuation expected to reach approximately $3 billion, more than double the valuation announced during its previous funding round four months ago. The company is dedicated to helping enterprises run and customize open-source models using their own data.

This financing is taking place against the backdrop of the company's recent strong revenue growth. Sources indicated that Applied Compute's current annualized revenue is approximately $50 million, nearly four times the revenue level disclosed by its CEO Yash Patil last November. According to the source, investor Elad Gil is negotiating to lead this round of financing, with the expected funding amount reaching hundreds of millions of dollars. It is currently unclear whether the valuation includes the newly injected capital. This round of financing has not been finalized yet, and specific terms may still change.