CNBC·4 min read·medium
Fireworks hits $17.5 billion valuation and $1B in annualized revenue
J
Jordan Novet
✦AI Summary
Cloud startup Fireworks has reached a $17.5 billion valuation and $1 billion in annualized revenue as companies seek open-source AI alternatives. The growth highlights a shift in the cloud market as businesses look beyond major tech giants for AI infrastructure.
The cost of the latest artificial intelligence models is increasingly breeding anxiety among finance executives, who have started directing employees to consider open-source alternatives.
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