AI cloud startup Applied Compute raises $350M after reaching key revenue milestone

AI cloud startup Applied Compute raises $350M after reaching key revenue milestone

Applied Compute Inc., a fast-growing provider of artificial intelligence infrastructure, has raised $350 million in funding at a $3.25 billion valuation.

The startup announced the deal on Monday. It stated that prominent angel investor Elad Gil led the round with participation from Nvidia Corp., Shopify Ventures, HubSpot Ventures and over a dozen others.

Applied Compute operates a cloud platform that developers use to train large language models and…