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Together AI could IPO in 2027, co-founder and CEO Vipul Ved Prakash tells Axios Pro.

The San Francisco-based cloud and inference provider raised an $800 million Series C at an $8.3 billion post-money valuation Wednesday.

State of play: Exploding AI expenses have investors eyeing VC deals and strategics making acquisitions.

Inference startup Baseten raised a $1.5 billion Series F that values it at $13 billion, and Qualcomm agreed to buy AI infrastructure startup Modular for a reported $3.9 billion, both in the last week.

This interview has been edited for length and clarity.

Prakash: "We went from $100 million in bookings to $1.2 billion in bookings in 12 months.

Some of the investors are also helping us with capacity. We need GPUs, we need power, we need data centers, and we have, as part of this round, got commitments of around 500 megawatts of capacity over the coming two and a half years, which is fairly important. ... There's no equity exchange for that. So it's more meaningful to us than just the capital."

Because of the capital intensiveness of inference and compute power, could you look at another round later this year or early 2027?

"I think it's quite possible. I think we have been surprised by the level of interest in the product and tokens, and it's definitely a lot sharper than what our projections were ... and I think if this continues or becomes even sharper, we would try to respond to that demand in whichever way possible."

Other cloud and compute companies like Coreweave have sought cash through the public markets. Is that a consideration even next year?

"Being a public company is definitely something that we would consider. It's not on the immediate calendar for us. We are not actively doing work on it, but I think there is quite a bit of interest in public markets for infrastructure companies."

Do you expect more consolidation in the market like the Qualcomm deal?

"Nvidia acquired Groq last year, because inference is a pretty interesting workload. It's multiple workloads, and you can optimize them with different kinds of chips ... so I think you may see some of that turn into consolidation, but I also think the market is quite large and there is room for companies that want to be independent."

Together AI IPO "possible" next year: CEO

The company could eye more funding later this year as inference takes off.

Portrait of a bald man in a navy T-shirt with arms crossed, smiling, against a gray gradient backdrop.

Together AI CEO Vipul Ved Prakash. Photo: Courtesy of Together AI

Together AI could IPO in 2027, co-founder and CEO Vipul Ved Prakash tells Axios Pro.<ul><li>The San Francisco-based cloud and inference provider raised an <a class="gtmContentClick" data-vars-link-text="$800 million Series C" data-vars-click-url="https://www.nytimes.com/2026/07/01/business/dealbook/together-ai-funding.html" data-vars-content-id="422d76b5-2cef-42e0-832b-2fe59689f8a6" data-vars-headline="Together AI IPO &quot;possible&quot; next year: CEO" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.nytimes.com/2026/07/01/business/dealbook/together-ai-funding.html" target="_blank">$800 million Series C</a> at an $8.3 billion post-money valuation Wednesday.</li></ul>State of play: Exploding AI expenses have investors eyeing VC deals and strategics making acquisitions.

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Together AI IPO "possible" next year: CEO

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