AI infrastructure startup Fireworks AI has closed a $1.5 billion Series D funding round, valuing the company at $17.5 billion. The round was jointly led by Atreides Management, Index Ventures, and TCV, with participation from Nvidia and others.
The valuation reflects Fireworks' rapid sales growth, with annualized revenue now exceeding $1 billion. The company's customer base includes Samsung and GitLab, and it processes over 40 trillion tokens daily for its users.
Fireworks operates a cloud platform that allows developers to fine-tune and customize open-source AI models. It provides managed graphics card clusters under a usage-based pricing model. The platform features an AI agent that automates the training workflow, helping developers optimize model performance.
"Every company holds knowledge no one else has," said CEO Lin Qiao. "Fireworks turns that knowledge into specialized intelligence they own and can keep improving."
The new capital will be used to expand infrastructure and hire more engineers.