Fireworks AI reportedly seeks funding at $30 billion to $40 billion valuation

Business Insider reported that AI infrastructure startup Fireworks AI is holding preliminary talks about raising funding at a valuation between $30 billion and $40 billion. The proposed valuation represents a potential increase of up to tenfold from the company's $4 billion Series C valuation in October 2025. The talks remain at an early stage, and the valuation target could change. Fireworks AI declined to comment. Business Insider did not disclose the proposed round's size.

Engineers from Meta's PyTorch open-source AI framework team founded Fireworks AI in 2022. Fireworks AI helps enterprises customize and deploy open-source models using the enterprises' own data.

In July 2026, Fireworks AI announced that the company had completed a $1.505 billion Series D at a $17.5 billion valuation. Fireworks AI said annualized revenue had exceeded $1 billion. Fireworks AI said daily token processing had increased from 15 trillion during the previous funding round to more than 40 trillion. A $40 billion valuation would equal roughly 40 times the company's previously disclosed annualized revenue.