Applied Compute Raises $350M at $3.25B Valuation

Applied Compute, an AI infrastructure startup, has raised $350 million at a $3.25 billion valuation, led by angel investor Elad Gil with backing from Nvidia, Shopify Ventures, and HubSpot Ventures. The company, founded less than 18 months ago, has surpassed $100 million in annualized recurring revenue and counts Microsoft and DoorDash among its customers. Its cloud platform offers asynchronous reinforcement learning and self-distillation to speed LLM training, alongside inference tools and a model router called Shift-1. The funds will support market expansion and infrastructure purchases.