From Business Insider · Ben Bergman · · 1m 30s
Fireworks AI seeks funding at thirty to forty billion dollar valuation
The AI infrastructure startup is in early talks for new funding at double its valuation from just months ago, even as it deals with a recent security breach.
In brief
The AI infrastructure startup is in early talks for new funding at double its valuation from just months ago, even as it deals with a recent security breach. Fireworks AI is seeking funding at a thirty to forty billion dollar valuation, up from seventeen point five billion in July, reflecting investor appetite for AI…
Fireworks AI seeks dramatic valuation jump
The AI infrastructure startup is in early talks for new funding at a valuation between thirty billion and forty billion dollars, according to people familiar with the matter.
Valuation more than doubles in months
The potential valuation leap reflects a dramatic jump from just seventeen point five billion dollars in July, when Fireworks raised a one point five billion dollar Series D round.
Founded by Meta and Google AI veterans
Fireworks was founded in two thousand twenty-two by veterans of Meta and Google's AI efforts. Chief executive Lin Qiao previously led the PyTorch team at Meta.
Serves over forty trillion tokens daily
The company said in July it had surpassed one billion dollars in annualized revenue and was serving more than forty trillion tokens a day, with ninety-five percent from customized models.
Security breach complicates funding talks
The fundraising talks come shortly after Fireworks identified unauthorized use of internal credentials that allowed an intruder to access data from some customer accounts earlier this month.
“I'm personally committed to turn this attack into the most formidable security response in AI Infra.”
The main idea
Fireworks AI is seeking funding at a thirty to forty billion dollar valuation, up from seventeen point five billion in July, reflecting investor appetite for AI infrastructure companies.
