---
title: "Fireworks AI revenue and valuation"
description: "Fireworks AI's ARR is estimated at $740M–$1.48B, last reported at $1B. Valued at $17.5B after raising $1.83B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/fireworks-ai.md
canonical_url: https://www.tryspecter.com/revenue-valuation/fireworks-ai
publisher: Specter
last_updated: 2026-11-01
---

# Fireworks AI revenue and valuation

Specter estimates Fireworks AI's annual revenue at $740M to $1.48B and its valuation at $15.1B to $20.9B. The company last reported $1B ARR in July 2026 and was priced at $17.5B in July 2026.

Fireworks AI runs, fine-tunes, and deploys open‑source LLMs and multimodal models for production.

- Estimated revenue: $740M to $1.48B (October 2026)
- Estimated valuation: $15.1B to $20.9B (October 2026)
- Last reported ARR: $1B (July 2026)
- Total funding: $1.83B
- Founded: 2022
- Headquarters: San Mateo, United States
- Employees: 408
- Sector: AI infra
- Specter Rank: #55,956

## Fireworks AI revenue

Fireworks AI grew from $130M ARR in December 2024 to $1B in July 2026. Specter's model puts current ARR between $740M and $1.48B, anchored to three reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $1B ARR | July 2026 | [Every company must own its intelligence.](https://x.com/FireworksAI_HQ/status/2077746648193941833) (x.com) |
| $800M ARR | May 2026 | [@FireworksAI_HQ just hit a major milestone — we passed $800M annualized run rate and reached 4x revenue growth, apart from Cursor, in Q1.](https://x.com/lqiao/status/2059491669767250431) (x.com) |
| $130M ARR | December 2024 | [American startup Fireworks AI, co-founded by two Ukrainians, raises $4 billion in investments](https://dev.ua/news/amerykanskyi-startap-fireworks-ai-sered-spivzasnovnykiv-iakoho-dvoie-ukraintsiv-reizyt-investytsii-na-4-mlrd-1747646184) (dev.ua) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $1.04B | $740M | $1.48B |
| September 2026 | $1.1B | $810M | $1.48B |
| August 2026 | $1.02B | $800M | $1.29B |
| July 2026 | $1B | $830M | $1.2B |
| June 2026 | $890M | $710M | $1.13B |
| May 2026 | $800M | $670M | $960M |
| April 2026 | $720M | $360M | $1.43B |
| March 2026 | $650M | $330M | $1.27B |
| February 2026 | $580M | $310M | $1.1B |
| January 2026 | $520M | $240M | $1.15B |
| December 2025 | $470M | $220M | $1.01B |
| November 2025 | $420M | $210M | $850M |
| October 2025 | $380M | $210M | $680M |
| September 2025 | $340M | $200M | $570M |
| August 2025 | $310M | $184M | $510M |
| July 2025 | $270M | $178M | $420M |
| June 2025 | $250M | $155M | $390M |
| May 2025 | $220M | $148M | $330M |
| April 2025 | $199M | $135M | $290M |
| March 2025 | $179M | $134M | $240M |
| February 2025 | $161M | $125M | $210M |
| January 2025 | $145M | $116M | $180M |
| December 2024 | $130M | $108M | $156M |
| November 2024 | $18M | $8.2M | $28M |
| October 2024 | $19M | $7.8M | $29M |
| September 2024 | $19M | $9.8M | $27M |
| August 2024 | $19M | $8.2M | $31M |
| July 2024 | $17M | $8.8M | $25M |
| June 2024 | $17M | $4.9M | $30M |

## Fireworks AI valuation

Fireworks AI's valuation rose from $552M at its Series B in July 2024 to $17.5B at its Series D in July 2026. Specter's live estimate sits between $15.1B and $20.9B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $17.8B | $15.1B | $20.9B |
| September 2026 | $18.1B | $14.8B | $22.2B |
| August 2026 | $18.1B | $14.9B | $22B |
| July 2026 | $17.5B | $14.6B | $21B |
| June 2026 | $17.5B | $14.6B | $21B |
| May 2026 | $13B | $9.9B | $17.1B |
| April 2026 | $9.7B | $7.42B | $12.7B |
| March 2026 | $7.22B | $5.63B | $9.26B |
| February 2026 | $5.37B | $4.32B | $6.69B |
| January 2026 | $4B | $3.33B | $4.81B |
| December 2025 | $4B | $3.33B | $4.81B |
| November 2025 | $4B | $3.33B | $4.81B |
| October 2025 | $4B | $3.33B | $4.81B |
| September 2025 | $3.51B | $1.3B | $9.46B |
| August 2025 | $3.07B | $1.11B | $8.46B |
| July 2025 | $2.69B | $990M | $7.3B |
| June 2025 | $2.36B | $1.1B | $5.06B |
| May 2025 | $2.07B | $990M | $4.32B |
| April 2025 | $1.81B | $890M | $3.67B |
| March 2025 | $1.59B | $860M | $2.94B |
| February 2025 | $1.39B | $830M | $2.34B |
| January 2025 | $1.22B | $750M | $1.97B |
| December 2024 | $1.07B | $660M | $1.73B |
| November 2024 | $940M | $650M | $1.34B |
| October 2024 | $820M | $600M | $1.13B |
| September 2024 | $720M | $550M | $930M |
| August 2024 | $630M | $510M | $780M |
| July 2024 | $550M | $460M | $660M |
| June 2024 | $260M | $230M | $450M |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $17.5B | July 2026 | Funding round |
| $17.5B | June 2026 | [tradingview.com](https://www.tradingview.com/news/reuters.com,2026:newsml_L4N43I1B6:0-nvidia-backed-startup-fireworks-valued-at-17-5-billion-in-latest-funding/) |
| $4B | January 2026 | [fortune.com](https://fortune.com/2026/01/05/nvidia-groq-deal-ai-chip-startups-in-play/) |
| $4B | December 2025 | [techcrunch.com](https://techcrunch.com/2025/12/01/at-least-36-new-tech-unicorns-were-minted-in-2025-so-far/) |
| $4B | November 2025 | [wsj.com](https://www.wsj.com/articles/ai-inference-startup-fireworks-ai-is-valued-at-4-billion-in-funding-round-758885c8?gaa_at=eafs&gaa_n=AWEtsqczAoZCvLOfQL9BjEl3iqhy5d4pZRywHM4gVsHeC5OuxZBHFdLj3Rc1&gaa_ts=6905532e&gaa_sig=zaqmGE45YT5r7j--YHE2_um7U9myEyKFcUEbU8StsmWPfUvyAk4z4FkR2qvKsUcNoyULJ0vx5BWW_xUEBnhhUA%3D%3D) |
| $4B | October 2025 | Funding round |
| $552M | July 2024 | Funding round |

## Fireworks AI funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 15 Jul 2026 | Series D | $1.5B | $17.5B | Atreides Management, TCV, Index Ventures |
| 28 Oct 2025 | Series C | $230M | $4B | Lightspeed Venture Partners, Index Ventures, Evantic Capital |
| 28 Oct 2025 | Secondary | $20M | $4B | Lightspeed Venture Partners, Index Ventures, Evantic Capital |
| 7 Jul 2024 | Series B | $52M | $552M | Sequoia Capital |
| 27 Mar 2024 | Series A | $25M | Undisclosed | Benchmark |
| 1 Dec 2022 | Pre-Seed | Undisclosed | Undisclosed | Undisclosed |

## Fireworks AI vs competitors

The production AI infrastructure market pits rapid serverless deployment against high-performance inference optimization.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Fireworks AI | $740M–$1.48B | $15.1B–$20.9B |
| Together AI (together.ai) | $990M–$2.03B | $7.42B–$10.6B |
| DeepInfra (deepinfra.com) | $67M–$106M | $980M–$2.22B |
| Hugging Face (huggingface.co) | $76M–$181M | $1.23B–$4.67B |
| Modular (modular.com) | $61M–$155M | $1.32B–$2.04B |

## Questions

### What is Fireworks AI's revenue?

Specter estimates Fireworks AI's annual recurring revenue at $740M to $1.48B as of October 2026. Fireworks AI last reported $1B ARR in July 2026, up from $130M in December 2024.

### What is Fireworks AI's valuation?

Fireworks AI's latest post-money valuation is $17.5B, from a July 2026 Series D. Specter's live estimate is $15.1B to $20.9B.

### What is Fireworks AI's revenue multiple?

Fireworks AI is valued at about 17.5× ARR, based on its $17.5B July 2026 valuation and $1B last reported ARR. That works out to roughly $2.45M of ARR per employee.

### How much funding has Fireworks AI raised?

$1.83B across six rounds, from a Pre-Seed in December 2022 to a $1.5B Series D in July 2026.

### Who invested in Fireworks AI?

26 investors, including Atreides Management, Evantic Capital, Index Ventures, Lightspeed Venture Partners, Sequoia Capital and TCV.

### Who are Fireworks AI's competitors?

Together AI, DeepInfra, Hugging Face and Modular. Specter ranks 28 competitors for Fireworks AI.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Fireworks AI revenue and valuation." tryspecter.com/revenue-valuation/fireworks-ai. Updated November 2026.