Fireworks AI in early talks to raise at $30B-$40B valuation, up from $17.5B months ago
sophiamyang · x · 2026-10-22
Fireworks AI is in early talks for a new funding round at a valuation between $30 billion and $40 billion, a dramatic jump from the $17.5 billion valuation set in July when it raised a $1.5 billion Series D led by Atreides Management, Index Ventures, and TCV, with Nvidia, Lightspeed, and Bessemer participating.
Founded in 2022 by Meta and Google AI veterans — CEO Lin Qiao previously led Meta's PyTorch team — Fireworks rents out compute infrastructure and software for businesses to run, fine-tune, and deploy open-weight and custom models. The valuation leap reflects investor appetite for AI infrastructure plays, even as the company works through a recent security incident. Talks are early and terms could change.
Related event: Fireworks AI Seeks Funding at $30-40 Billion Valuation(2 posts)→
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