The company is less than a year old and recently raised $1 billion in a Series C round from Sequoia Capital, Benchmark Capital, and Coatue at a $10 billion valuation. This funding follows a $250 million raise at a $2.5 billion valuation just one month prior. Most of the new capital will support compute capacity, which doubles in demand every week and currently consumes 40% of CEO Noah Shinn's time to acquire.
