According to CoinMeta, Applied Compute has completed a financing round of $80 million, with a post-investment valuation reaching $1.3 billion. The round was led by Kleiner Perkins, with participation from Elad Gil, Lux Capital, Greenoaks, Neo, Hana Bicapital, and others, bringing the total financing to $160 million. The company was founded by three former OpenAI researchers and primarily helps enterprises train, deploy, and continuously improve open-weight models using their own data. Four months ago, Applied Compute also completed a financing round of $80 million with a post-investment valuation of $1.3 billion; it currently has an annualized revenue of about $50 million, which is nearly four times the $12.8 million disclosed by CEO Yash Patil in November last year.