Fireworks valuation soars from $4B toward $40B as inference clouds bet on falling prices
FinanceYF5 · x · 2026-10-26
Inference cloud Fireworks was valued at $4B a year ago, rose to $17.5B in July, and is reportedly now negotiating a $30-40B round. Peers include Baseten and Together.
The author asks whether these clouds can stay profitable as inference prices drop 10x per year: cheaper prices drive more usage, but revenue growth must outpace price decline — they need to climb the value stack rather than just sell cheap compute.
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