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AI cloud service Fireworks, supported by Nvidia, completes a $1.5 billion funding round, valuing it at $17.5 billion

2026-07-19 15:17:35

Abstract generation in progress

PANews July 16 report, citing CNBC: Fireworks, an AI cloud services startup backed by Nvidia, has completed $1.5 billion in funding, valuing the company at $17.5 billion. The round was led by Atreides Management, Index Ventures, and TCV, with participation from Nvidia, Evantic, Lightspeed Venture Partners, and others. Fireworks primarily hosts and runs open-source AI models for developers. Its annualized revenue has already exceeded $1 billion, which is 5x its revenue in the same period last year. Fireworks currently processes 400 trillion AI Tokens every day, and has begun offering GPUs for training AI models.

NVDA0.36%

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