VNet completes $5 billion strategic financing, led by Coatue, with participation from Blackstone, MGX, and T. Rowe Price According to BlockBeats, on August 14th, AI data platform VNet announced the completion of a $5 billion strategic financing with a post investment valuation of $190 billion. The previously announced term sheet valuation on July 16th was $188 billion, and the final amount was increased due to the expansion of the financing scale and the issuance of additional shares. This round is led by old shareholder Coatue, with participation from Blackstone, MGX, and T. Rowe Price, and Sixth Street Growth as a new investor. The company's revenue operating rate has exceeded 7 billion US dollars, with a year-on-year growth of over 80%. Co founder and CEO Ali Ghodsi stated that according to the definition used by the industry before 2022, AGI has arrived - the real bottlenecks have shifted to enterprise context, AI token costs, and agent infrastructure. The newly added funds will be invested in three core directions: Unity AI Gateway (cross model routing and expenditure control), Lakebase (serverless Postgres database, revenue run rate has exceeded $100 million), and Genie (providing enterprise context access capability for AI). Ghodsi also revealed that the possibility of the company's IPO before Anthropic or OpenAI is "very low". Previously, he had repeatedly denied rumors of summer financing, and ultimately decided to raise funds based on the cost of expanding AI business and increasing recruitment and acquisition investment.