Aramco's Prosperity7 leads Together AI's new funding round

Together AI, the open-source model cloud, is back in the fundraising conversation, and the more interesting signal this time is who is writing the check. Saudi Aramco's Prosperity7 Ventures is reportedly leading a new round, per The New York Times, planting Gulf sovereign-adjacent capital deeper into the open-model infrastructure layer.

For context on the trajectory. Together's Series B in February 2025 was a $305 million round at a $3.3 billion valuation, co-led by Prosperity7 and General Catalyst. By March 2026, Investing.com reported the company was in talks for roughly $1 billion at a $7.5 billion pre-money valuation, and by April, private-market trackers had it in a $7.5 to $8.5 billion band. The appetite is not hard to explain: Together is reportedly running at around $1 billion in annualized revenue, up more than three times from mid-2025.

The identity of the lead check matters more than the exact multiple. Prosperity7 is the venture arm of Saudi Aramco, and a lead position on an open-model cloud puts Gulf capital at the top of the cap table for a company positioned as the neutral hosting layer for open weights rather than a frontier lab in its own right. That fits a broader pattern of Gulf sovereign vehicles buying into the compute-and-hosting stack rather than joining the closed-model arms race.

Take the specifics as reported, not settled. The exact round size and valuation vary across accounts, Together itself has not always confirmed the tracker numbers, and the reporting does not really tell you how the check is structured, whether it comes with committed compute or Aramco-adjacent customer commitments, or how much of the round is primary versus secondary. Those are the details that separate a normal growth round from a strategic anchor.

For anyone building on open-weight models, a better-capitalized neutral cloud is a good thing. Watch whether the new balance sheet shows up as cheaper inference and more Nvidia Blackwell capacity, and watch the customer roster for Gulf-linked additions.