Nvidia-backed Fireworks Raises $1.5 Billion in Series D

Dow Jones07-16 21:38

The cloud-based generative AI platform Fireworks has raised $1.5 billion in its latest financing round at a valuation of $17.5 billion.

Fireworks said Thursday that the Series D round was led by Atreides Management, Index Ventures, and TCV. Existing investors Evantic, Lightspeed Venture Partners and Nvidia participated as well.

A Series D round refers to the fourth fundraising stage for a company, where large investment firms inject cash to help it scale up or prepare to go public.

The funding comes as Fireworks surpasses $1 billion in annualized revenue run rate, the company said. That's up fivefold year-over-year from its last funding round.

In that time, Fireworks has nearly tripled the daily volume of tokens served on its platform, the company said.

"Fireworks has assembled one of the most elite and technical teams in AI," Atreides managing partner Gavin Baker said.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

July 16, 2026 09:38 ET (13:38 GMT)

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