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 from what its CEO Yash Patil has said it was generating last November.
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