Lates News

Artificial intelligence cloud startup Fireworks AI is in negotiations to raise funds at a valuation of $4 billion, which is 7 times higher than last year's stock value, with the support of Lightspeed and Index Ventures. With an annual revenue of over $200 million and clients like Perplexity, Fireworks rents Nvidia GPU servers for open-source artificial intelligence, but faces pressure on profit margins and direct competition from Nvidia's own cloud market.