Fireworks AI in Talks for Funding Round at $15 Billion Valuation

Fireworks AI, an artificial intelligence inference startup, is in discussions to raise new funding that would value the company at $15 billion, people familiar with the matter said. Existing backer Index Ventures is set to co-lead the round. The financing has not been finalized and terms may change. Founded in 2022 by former Meta Platforms engineers, Fireworks last raised $250 million in October 2025 at a $4 billion valuation from Lightspeed Venture Partners, Index Ventures and Evantic. The company provides infrastructure for running trained AI models, a sector that has drawn heavy investor interest. Rivals include Baseten Labs, valued at $5 billion in January 2026, and Fal at $4.5 billion in December 2025. Fireworks counts AI coding startup Cursor among its customers. The talks underscore intensifying demand for inference services amid the broader AI boom.