Fireworks AI in Talks for New Funding Round at Valuation of Up to $40 Billion

According to Business Insider, AI infrastructure startup Fireworks AI is in preliminary talks for a new funding round, planning to raise at a valuation of $30 billion to $40 billion, an increase of roughly 71% to 129% from the $17.5 billion valuation in its Series D round in July this year. The company disclosed in July that its annualized revenue had exceeded $1 billion and that it processes more than 40 trillion tokens per day; Nvidia participated in its Series D investment. These talks come after its October 9 disclosure of a security incident in which internal credentials were compromised and a small number of customer API keys may have leaked.