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Fireworks AI ARR: $1B+ and 5x in a Year.

Fireworks AI turned serving open-source models into a $1B+ annualized revenue run rate — up 5x in a year — and closed a $1.5B Series D at $17.5B to prove inference is its own market. Every reported ARR, funding and token-volume number is collected below, each traced back to a public source.

$1B+

Annualized revenue run rate, Jul 2026

5x

Year-over-year growth

40T+

Tokens served per day

$17.5B

Valuation, Series D Jul 2026

The Fireworks AI Revenue Curve.

Annualized revenue run rate in USD millions, Series C through the Series D announcement.

$0M$275M$550M$825M$1.1B2022 — $0M ARR2025 — $280M ARRMay 2026 — $800M ARRJuly 16, 2026 — $1B ARRJuly 2026 — $1B ARR2022Series CMay '26Jul '26Jul '26
Sources: Fireworks, CNBC, Sacra, Quartz, Businesswire.

$0 → $280M ARR

~3 years

2022 founding → Series C

~$280M → $1B+ ARR

~1 year

Series C → Jul 2026

Valuation $4B → $17.5B

~1 year

Series C → Series D

Token volume growth

10T → 40T+ / day

Series C → Jul 2026

Every Reported ARR Milestone.

  1. 2022

    $0M ARR

    Founded by Lin Qiao and ex-PyTorch colleagues from Meta to make open-model inference production-grade. — Company

  2. 2025

    $280M ARR

    $250M Series C at a $4B valuation, with ~$280M ARR and 10T+ tokens served per day. — Sacra / press

  3. May 2026

    $800M ARR

    Sacra estimated ARR near $800M, up from ~$305M at the end of 2025. — Sacra

  4. July 16, 2026

    $1B ARR

    Surpassed $1B in annualized revenue run rate — up ~5x year over year — serving more than 40 trillion tokens per day. — Fireworks / CNBC

  5. July 2026

    $1B ARR

    $1.505B Series D at a $17.5B valuation, led by Atreides Management, Index Ventures and TCV with NVIDIA participating — a ~4.4x valuation jump in about a year. — Fireworks / CNBC

Fireworks AI by the Numbers.

Annualized run rate

$1B+

Fireworks / CNBC, Jul 2026

Growth

~5x YoY

CNBC, Jul 2026

Tokens served

40T+ / day

Fireworks, Jul 2026

Valuation

$17.5B

Series D, Jul 2026

Series D

$1.505B

Fireworks, Jul 2026

Backers

NVIDIA, Atreides, Index, TCV

Fireworks

Founded

2022, Redwood City

Company

CEO

Lin Qiao

Company

How 40 Trillion Daily Tokens Turn Into Revenue.

Fireworks runs an inference cloud: per-token serverless APIs for open and custom models, plus dedicated capacity and fine-tuning for enterprises that want optimized private deployments. The wedge is cost and speed — serving open models on Fireworks' optimized stack undercuts closed frontier-model APIs, and the volume shows it: from 10T+ tokens per day at the Series C to more than 40 trillion per day at $1B+ annualized revenue in July 2026.

The next act is 'specialized intelligence' — custom enterprise models built on Fireworks' infrastructure, with planned distribution through Microsoft Foundry and Azure. The capital follows the revenue curve: a $250M Series C at $4B (~$280M ARR) was followed by a $1.505B Series D at $17.5B led by Atreides Management, Index Ventures and TCV, with NVIDIA staying on — roughly a 4.4x valuation jump in about a year as run rate grew ~5x.

Revenue Mix

  • Per-token inference APIsServerless serving of open and fine-tuned models — the 40T tokens/day volume engine.
  • Dedicated capacityReserved optimized deployments for enterprises with predictable, heavy inference loads.
  • Custom model servicesFine-tuning and 'specialized intelligence' offerings, distributed via Microsoft Foundry/Azure.

FAQ

Fireworks AI Revenue, Answered.

What Is Fireworks AI's ARR in 2026?
Fireworks AI surpassed $1 billion in annualized revenue run rate in July 2026, disclosed alongside its $1.505B Series D. That is up roughly 5x year over year, with Sacra having estimated ~$800M ARR in May 2026 and ~$305M at the end of 2025.
How Fast Is Fireworks AI Growing?
About 5x year over year as of July 2026. Token volume tells the same story: from 10T+ tokens served per day at the Series C (~$280M ARR) to more than 40 trillion per day at the $1B+ run rate.
What Is Fireworks AI's Valuation?
$17.5 billion at the July 2026 Series D — $1.505 billion raised, led by Atreides Management, Index Ventures and TCV, with NVIDIA participating. That is a ~4.4x jump from the $4B Series C valuation roughly a year earlier.
How Does Fireworks AI Make Money?
Per-token serverless inference APIs for open and custom models, dedicated optimized capacity for enterprise workloads, and fine-tuning services. It is expanding into custom 'specialized intelligence' enterprise models with planned availability via Microsoft Foundry and Azure.
How Does Fireworks Compare to Together AI and Baseten?
All three sell AI inference, at different scales: Fireworks at $1B+ annualized ($17.5B valuation), Together AI at ~$1B revenue on $1.15B bookings ($8.3B), and Baseten at ~$600M ARR ($13B). Fireworks differentiates on inference optimization for open models and its NVIDIA-backed serving stack.

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