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Fireworks AI Secures $1.5 B Series D, Hits $17.5 B Valuation

7/17/2026

Summary

Fireworks AI Funding

Fireworks AI secured $1.505 billion in Series D funding, valuing the company at $17.5 billion.
Atreides Management, Index Ventures and TCV led the round, joined by NVIDIA, Lightspeed and Bessemer.
Fireworks now generates over $1 billion in annualized revenue and processes more than 40 trillion tokens daily, 95% on customized models.
Proceeds will expand compute capacity, hire engineers, deepen cloud ties with Microsoft and NVIDIA, and triple staff to 600 by year-end.

Summary

Finance Execs Shift

Finance executives' anxiety over AI model costs is pushing them to open-source alternatives, boosting Fireworks' revenue.
Fireworks, led by CEO Lin Qiao and co-founders Chenyu Zhao and Benny Chen, provides services competing with Amazon, Google and Microsoft.
The startup also provides GPUs for model training, joining rivals CoreWeave, Lambda and Nebius.
CoreWeave's $1.5 billion IPO valued it at $42 billion, with Baseten, Together AI and DigitalOcean seeing shares rise 149% this year.

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Fireworks AI Funding

Fireworks AI secured $1.505 billion in Series D funding, valuing the company at $17.5 billion.
Atreides Management, Index Ventures and TCV led the round, joined by NVIDIA, Lightspeed and Bessemer.
Fireworks now generates over $1 billion in annualized revenue and processes more than 40 trillion tokens daily, 95% on customized models.
Proceeds will expand compute capacity, hire engineers, deepen cloud ties with Microsoft and NVIDIA, and triple staff to 600 by year-end.

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