Fireworks AI Discusses Funding at Up to $40 Billion Valuation

Fireworks AI is in early talks to raise funding at a valuation of $30 billion to $40 billion, Business Insider reported, according to Tech Funding News. Fireworks declined to comment. The discussions are preliminary, the target could change, and the proposed round size was not disclosed.

The potential valuation compares with the $17.5 billion valuation Fireworks received in July, when it raised $1.505 billion in a Series D. Atreides Management, Index Ventures, and TCV led that round, with Nvidia and other existing investors participating.

Fireworks provides infrastructure for companies to customize and run open models using their own data. At the time of that round, the company said it had passed $1 billion in annualized revenue and daily volume exceeding 40 trillion tokens.