Fireworks AI completes a $1.5 billion funding round, led by Index Ventures and others

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Deep Tide TechFlow message: On July 16, according to CNBC, AI infrastructure startup Fireworks AI announced the completion of a $1.5 billion funding round, with the latest valuation reaching $17.5 billion. The round was led by Atreides Management, Index Ventures, and TCV, with participation from firms including Nvidia, Evantic, and Lightspeed Venture Partners.

Fireworks AI previously received support from Nvidia. It mainly provides developers with open-source AI model cloud runtime services, helping businesses deploy AI applications at lower cost. The company disclosed that its platform currently processes about 40 trillion AI Tokens per day. Customers include Elastic, GitLab, and MongoDB, among other enterprises. The report said that more than half of Fireworks AI’s early revenue came from the AI programming tool Cursor, but the company’s customer mix has since become more diversified.

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