Quartz·1 min read·medium
Fireworks AI raised $1.5 billion as companies flee costly AI for open-source alternatives
✦AI Summary
AI infrastructure startup Fireworks AI has raised $1.5 billion as businesses increasingly shift toward open-source models to reduce costs. The company reported a fivefold increase in annualized revenue, highlighting a growing market trend of moving away from expensive frontier AI models.
The AI infrastructure startup surpassed $1 billion in annualized revenue, up fivefold year-over-year, as companies seek cheaper alternatives to frontier models
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