Fireworks AI plans to conduct a new round of financing, with a target valuation of up to 40 billion USD

According to Business Insider, AI infrastructure Fireworks AI is in the preliminary negotiation stage for a new round of financing, with a target valuation of $30 billion to $40 billion, representing a potential increase of up to 10 times from its $4 billion valuation during the Series C financing in October 2025. Related 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 enterprises to customize and deploy open-source models based on their own data. The company announced the completion of a $1.505 billion Series D financing in July 2026, with a valuation of $17.5 billion, and stated that its annual revenue has surpassed $1 billion, with the daily processing of tokens increasing from 150 trillion during the previous financing round to over 400 trillion.