Business Insider, citing people familiar with the matter, reports AI-infrastructure startup Fireworks AI is seeking a new funding round targeting a $30–40 bln valuation, up from roughly $17.5 bln several months ago; talks are in early stages and the target could change. Unlike firms building ChatGPT-style general models, Fireworks focuses on enterprise “specialized intelligence” — custom models trained on clients’ proprietary data and workflows — and told investors in July it has annualized reve

Business Insider, citing people familiar with the matter, reports AI-infrastructure startup Fireworks AI is seeking a new funding round targeting a $30–40 bln valuation, up from roughly $17.5 bln several months ago; talks are in early stages and the target could change. Unlike firms building ChatGPT-style general models, Fireworks focuses on enterprise “specialized intelligence” — custom models trained on clients’ proprietary data and workflows — and told investors in July it has annualized revenue above $1 bln, processes over 40 trillion tokens per day, and that 95% of token volume comes from client-tailored models.