🇺🇸AI-infrastructure provider Fireworks AI is pursuing financing at a $30–40 billion target valuation; discussions remain preliminary.

Fireworks AI is seeking a new valuation, not announcing a completed financing. A Telegram report citing Business Insider says the company is targeting $30 billion to $40 billion, compared with a reported $17.5 billion valuation a few months earlier. Sources described discussions as early-stage and said the target could change.

The company’s stated focus is enterprise model customization. Fireworks describes its offering as “specialized intelligence,” using customers’ proprietary data, workflows, and business requirements to tailor AI models. The report distinguishes that approach from building a direct ChatGPT competitor.

Previously disclosed operating metrics provide context for the fundraising. Fireworks said in July that annualized revenue exceeded $1 billion and that it processed more than 40 trillion tokens daily, with 95% coming from customer-customized models. These are company-reported operating metrics; the supplied report does not disclose the amount being raised, investor commitments, dilution, or financing conditions.