VNet completes $5 million financing at a valuation of $19 million, Ali Ghodsi: AGI has arrived

The AI data platform VNet has completed a strategic financing of $5 million with a post investment valuation of $19 million. Coatue is leading the investment in this round, with participation from Blackstone, MGX, T. Rowe Price, and Sixth Street Growth. The company's revenue operating rate has exceeded $700 million, with a year-on-year growth of over 80%. Co founder and CEO Ali Ghodsi stated that AGI has arrived, and the bottleneck has shifted to enterprise context, AI token costs, and agent infrastructure. The new funds will be invested in Unity AI Gateway, Lakebase (with a revenue run rate of over $100 million), and Genie. Ali Ghodsi revealed that the likelihood of the company going public before Anthropic or OpenAI is very low.