Applied Compute, Founded by Ex-OpenAI Researchers, in Talks for $1.3 Billion Valuation

Applied Compute, a startup founded by three former OpenAI researchers that helps companies customize models with their own data, is in talks to raise new funding at a $1.3 billion valuation, including the investment, according to four people with knowledge of the discussions. The funding would more than double the company’s valuation from its last round announced less than three months ago, which valued it at about $500 million.

New investor Kleiner Perkins is in talks to lead the round, the people said. The talks are early and terms could change. The round could amount to as much as $70 million, according to one of the people. The company has previously raised $80 million from investors including Sequoia Capital, Benchmark and Lux Capital.