Fireworks AI Aims for a Valuation of $40 Billion in Financing

Fireworks AI is in the preliminary stages of discussions for a new round of financing, targeting a valuation between $30 billion and $40 billion, representing a potential increase of up to 10 times from the $4 billion valuation during its Series C funding in October 2025. The negotiations are still in the early stages, and the target valuation may change. The company declined to comment, and the report did not disclose the scale of this round of financing. Fireworks AI was founded in 2022 by engineers from the PyTorch team, an open-source AI framework under Meta, providing services for customizing and deploying open-source models based on proprietary data. The company announced the completion of a $1.505 billion Series D funding round in July 2026, achieving a valuation of $17.5 billion, with annual revenue surpassing $1 billion and the daily processing of tokens increasing from 15 trillion during the previous funding round to over 40 trillion.

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