Inference-focused AI startup scoops $254 M at $4 B valuation

Three-year-old startup Fireworks AI, which provides developers virtual access to advanced AI chips and optimises open-source models for inference, has raised $254 million in a Series C funding round, valuing it at about $4 billion. Led by Lightspeed Venture Partners, Index Ventures and Evantic, the raise comprised $230 million primary and $24 million secondary. With annual recurring revenue reported above $280 million and 115 employees, Fireworks will hire 150+ staff and acquire more GPUs. The move signals investors backing the shift from training to inference in AI deployment.