AI infrastructure startup Fireworks in early talks for funding at valuation between $30 billion and $40 billion
Funding discussions remain preliminary
Fireworks AI is seeking new investment at a valuation of $30 billion to $40 billion, people familiar with the matter said. The company declined to comment. The funding discussions are at an early stage, and the valuation range could change. The proposed figures would mark a significant rise from the $17.5 billion valuation Fireworks had reached months earlier.
Infrastructure for business AI
The company rents computing infrastructure and provides software for businesses to run, customize and deploy open-weight and custom AI models. Its focus is on specialized systems adapted to customers’ data, workflows and needs, rather than a consumer chatbot competing with ChatGPT.
Revenue claims and security incident
Fireworks said in July that annualized revenue had passed $1 billion and that it was handling more than 40 trillion tokens per day. The company said 95% of those tokens came from models tailored for customers.
Key points
- Fireworks AI is seeking funding at a valuation between $30 billion and $40 billion.
- The discussions are preliminary, and the proposed valuation could change.
- Fireworks said it surpassed $1 billion in annualized revenue in July.
- The company disclosed unauthorized access to data from some customer accounts.