Applied Compute in Talks to Double Valuation to $3 Billion on Open-Source Demand

Applied Compute, a year-old startup that helps companies run and customize open-source models with their own data, is discussing a new funding round that would value it at around $3 billion, more than double its valuation from a round announced four months ago, according to a person with knowledge of the funding. The financing follows strong revenue growth in recent months. Applied Compute is currently generating around $50 million in annualized revenue, the person said, up nearly four times...