Fireworks AI Discusses Funding at Valuation of Up to $40 Billion

Fireworks AI is discussing a new funding round at a potential valuation of $30 billion to $40 billion, with the upper end more than double its July 2026 valuation.

The conversations are preliminary, and the target could change. The round’s size has not been disclosed, and Fireworks declined to comment.

Fireworks completed a $1.505 billion Series D in July 2026 at a $17.5 billion valuation. At the time, the company said its annualized revenue had topped $1 billion and it was processing more than 40 trillion tokens per day, up from 15 trillion at its previous funding round.

Founded in 2022 by engineers from Meta’s PyTorch team, the AI infrastructure company helps businesses customize and deploy open-source AI models using their own data.

Fireworks AI’s October 2025 Series C valued it at $4 billion. The upper end of the new target range would be 10 times that valuation.