Fireworks, which helps developers access AI chips and open-source models, raised $1.5B at a $17.5B valuation and says it has exceeded $1B in annualized revenue (Jordan Novet/CNBC)

<a href="https://www.cnbc.com/2026/07/16/fireworks-nvidia-cloud-ai-startup-value.html"><img align="RIGHT" border="0" hspace="4" src="http://www.techmeme.com/260716/i28.jpg" vspace="4" /></a> <p><a href="https://www.techmeme.com/260716/p28#a260716p28" title="Techmeme permalink"><img height="12" src="http://www.techmeme.com/img/pml.png" style="border: none; padding: 0; margin: 0;" width="11" /></a> Jordan Novet / <a href="http://www.cnbc.com/">CNBC</a>:<br /> <span style="font-size: 1.3em;"><b><a href="https://www.cnbc.com/2026/07/16/fireworks-nvidia-cloud-ai-startup-value.html">Fireworks, which helps developers access AI chips and open-source models, raised $1.5B at a $17.5B valuation and says it has exceeded $1B in annualized revenue</a></b></span>&nbsp; &mdash;&nbsp; The cost of the latest artificial intelligence models is increasingly breeding anxiety among finance executives &hellip; </p>