Fireworks AI Raises $250 Million at a $4 Billion Valuation

Fireworks AI is a high-performance cloud platform designed for developers to build, fine-tune, and deploy generative AI applications. At its core, it is an "AI inference platform" that provides the infrastructure and tools needed to run open-source AI models at high speed and large scale. This focus on optimized performance enables developers to serve models at extremely low latencies, which is critical for real-time applications.

Fireworks AI has raised $250 million in a Series C funding round, bringing its valuation to $4 billion. The round was led by Lightspeed Venture Partners, Index Ventures, and Evantic, with participation from existing investors including Sequoia Capital, NVIDIA, AMD, MongoDB, and Databricks.

Fireworks AI, headquartered in Redwood City, California, United States, was founded in 2022 by Lin Qiao and Dmytro Ivchenko. “Our mission is to enable every business to achieve automated product and model co-design to reach maximum quality, speed, and cost-efficiency using generative AI,” said Fireworks AI co-founder and CEO Lin Qiao. “Fireworks AI is the only platform delivering state-of-the-art open-source models, sub-second inference at scale, and the ability to own and differentiate your AI. That’s why companies like Uber, Genspark, Retell AI, Shopify, and GitLab have scaled on Fireworks.”