Chutes was founded by Rayon Labs as a decentralized, distributed serverless AI compute platform. The official X (Twitter) account was created in November 2024.

Chutes announced and launched new monthly subscription tiers, starting from $3 per month, offering up to 5,000 requests per day for developers and enterprise users.

Chutes made the GPT OSS 120B model available on its platform, offering it at competitive prices for token input and output.