Applied Compute in Talks for Funding, Valuation May Reach $3 Billion

AI startup Applied Compute is negotiating a new round of funding, with a valuation expected to reach approximately $3 billion, more than doubling its valuation from four months ago. The company is focused on helping businesses leverage their own data to run and customize open-source models. This funding round comes on the heels of the company's strong revenue growth, with an annualized revenue of about $50 million, nearly quadrupling since November of last year. Investor Elad Gil is in discussions to lead this funding round, which is expected to raise several hundred million dollars. The round has not yet been finalized, and specific terms may still change.

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