Fireworks AI Reportedly Seeks New Funding Round at $30B–$40B Valuation

Odaily: AI infrastructure startup Fireworks AI is in preliminary talks for a new funding round, targeting a valuation of $30 billion to $40 billion, a potential increase of up to 10x from its $4 billion Series C valuation in October 2025. The negotiations are still at an early stage, and the target valuation may change. The company declined to comment, and the report did not disclose the size of the round.

Fireworks AI was founded in 2022 by engineers from Meta's open-source AI framework PyTorch team, and provides enterprises with services to customize and deploy open-source models based on their own data. In July 2026, the company announced the completion of a $1.505 billion Series D at a valuation of $17.5 billion, saying its annualized revenue had surpassed $1 billion and its daily token processing volume had grown from 15 trillion at the time of its previous funding round to more than 40 trillion. If the proposed valuation reaches $40 billion, it would be equivalent to roughly 40 times its previously disclosed annualized revenue. (Business Insider)