Infrastructure startup Fireworks AI is in early talks for new funding at a valuation between $30 billion and $40 billion

Fireworks AI CEO and co-founder Lin Qiao Big Event Media/Getty Images for HumanX Conference Fireworks AI is an AI-infrastructure startup founded by former Google and Meta AI engineers.

The company is seeking to raise a new round of funding at a valuation between $30 billion and $40 billion.

Fireworks AI was last valued at nearly $18 billion in July of this year.

Fireworks AI is seeking to raise fresh funding at a valuation between $30 billion and $40 billion, a dramatic jump just months after the AI-infrastructure startup was valued at $17.5 billion, according to people familiar with the matter.

The potential valuation leap reflects investors' appetite for the companies selling the computing power and tools fueling the AI boom, even as Fireworks AI works through the fallout from a recent security incident.

The talks around the financing are still early, and valuation targets could still change.

Fireworks declined to comment.

Founded in 2022, Fireworks was built by veterans of Meta and Google's AI efforts.

Chief executive Lin Qiao previously led the PyTorch team at Meta, while cofounders include former Meta infrastructure engineers and a former leader of Google's Vertex AI.

The company rents out computing infrastructure and software that lets businesses run, fine-tune, and deploy open-weight and custom AI models.

In July, Fireworks announced a $1.5 billion Series D funding round at a $17.5 billion valuation, led by Atreides Management, Index Ventures, and TCV, with participation from Nvidia, Lightspeed Venture Partners, Bessemer Venture Partners, and Menlo Ventures.

That round followed a $250 million Series C at a $4 billion valuation in late 2025, co-led by Lightspeed, Index, and Evantic.

Rather than trying to build a consumer chatbot to rival ChatGPT, Fireworks sells what it calls specialized intelligence: models customized on a customer's proprietary data, workflows, and use cases.

The company said in July that it had surpassed $1 billion in annualized revenue and was serving more than 40 trillion tokens a day; it said 95% of those tokens came from models tailored to customers.