Applied Compute raises $350 million at $3.25 billion valuation

Nov 4, 2026
Applied Compute raised $350 million at a $3.25 billion valuation after reaching a $100 million annualized revenue run rate. The company will expand compute capacity, hiring and enterprise deployments.

Applied Compute detailed a $350 million funding round in a company blog post, valuing the AI infrastructure company at $3.25 billion. Elad Gil led the round, with participation from Kleiner Perkins, Lux Capital, Blackstone, Shopify Ventures, HubSpot Ventures and NVIDIA, among other investors.

The company says it reached a $100 million annualized revenue run rate less than 18 months after its founding. Its customers include Microsoft, Shopify, Harvey, DoorDash, Cognition, Clay and Decagon.

Applied Compute introduced its AC2 platform three months ago to combine model training, inference and continued improvement. Customers have completed more than 1,700 training runs on AC2 since July, while its inference service processes more than 1 trillion tokens each day.

Applied Compute plans to use the funding to expand compute capacity, hire more staff and increase enterprise deployments. Its team has tripled since January, with researchers and engineers representing 85 percent of employees.

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