# Fireworks AI Series D

> Fireworks AI has raised a $1.505 billion Series D at a $17.5 billion valuation, led by Atreides Management, Index Ventures, and TCV, with Nvidia, Lightspeed, Bessemer, and Menlo Ventures among the participants. It is a large round even by current standards, and the investor roster reads like a bet on the infrastructure layer of AI rather than any single model. The numbers behind the raise are the story. Fireworks says it crossed a $1 billion annualized revenue run rate, roughly five times the prior year, and serves 40 trillion tokens a day to enterprise customers. Its platform gives companies access to more than 100 open-source models plus tools to fine-tune and deploy them. That positioning is the interesting part. As open-weight models close the gap with the frontier, businesses need somewhere to actually run them at scale, and Fireworks is selling the picks and shovels for exactly that shift. Revenue at this level makes the valuation less of a pure faith bet than many AI rounds, though sustaining five-times growth as bigger clouds crowd in will be the test.

_Section: [AI Funding Tracker](https://www.wortins.com/funding) · Source: Fireworks · Published Tuesday, August 11, 2026_

## Wortins' read

Fireworks AI has raised a $1.505 billion Series D at a $17.5 billion valuation, led by Atreides Management, Index Ventures, and TCV, with Nvidia, Lightspeed, Bessemer, and Menlo Ventures among the participants. It is a large round even by current standards, and the investor roster reads like a bet on the infrastructure layer of AI rather than any single model. The numbers behind the raise are the story. Fireworks says it crossed a $1 billion annualized revenue run rate, roughly five times the prior year, and serves 40 trillion tokens a day to enterprise customers. Its platform gives companies access to more than 100 open-source models plus tools to fine-tune and deploy them. That positioning is the interesting part. As open-weight models close the gap with the frontier, businesses need somewhere to actually run them at scale, and Fireworks is selling the picks and shovels for exactly that shift. Revenue at this level makes the valuation less of a pure faith bet than many AI rounds, though sustaining five-times growth as bigger clouds crowd in will be the test.

## Source

[Read the full story at Fireworks](https://fireworks.ai/blog/series-d-announcement)

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