Applied Compute Raises $350 Million at $3.25 Billion Valuation

Applied Compute raised $350 million at a $3.25 billion valuation after reaching a $100 million annualized revenue run rate in under 18 months, expanding an AI infrastructure business serving enterprise customers. The company announced the financing Monday, Nov. 2, and said it reached the run rate less than a year and a half after its founding. Applied Compute plans to use the funding to add computing capacity, grow its team and accelerate enterprise deployments. Investor Elad Gil led the round.

Source: TokenPost