{"slug": "fireworks-crossed-1-billion-in-annual-recurring-revenue-but-what-does-it-do", "title": "Fireworks crossed $1 billion in annual recurring revenue, but what does it actually do?", "summary": "AI startup Fireworks crossed $1 billion in annual recurring revenue and announced a $1.5 billion fundraise, as customers adopt its platform for custom AI models trained on proprietary data. Founded by former Meta engineer Lin Qiao, Fireworks provides enterprises with serverless API access to open weights models and infrastructure for training specialized models.", "body_md": "[AI](/tag/ai/)\n\nAI startup Fireworks announced a [$1.5 billion fundraise](https://fireworks.ai/blog/series-d-announcement?ref=thestack.technology) last week as customers flock to the “specialised intelligence platform” bringing $1 billion in annual recurring revenue with them.\n\nThe Silicon Valley startup was founded by Lin Qiao, a former Meta engineer who led the team responsible for PyTorch before it was donated to the Linux Foundation.\n\nFireworks promises to deliver [custom AI models](https://fireworks.ai/?ref=thestack.technology) to enterprises trained on their own proprietary data and workflows, using the tagline \"Own your model. Own your future\"\n\nEnterprises can access open weights AI models through Fireworks’s serverless API, as well as use the company’s infrastructure to train and fine-tune specialised models.\n\n## Get the full story: Subscribe for free\n\nJoin peers managing over $100 billion in annual IT spend and subscribe to unlock full access to The Stack’s analysis and events.\n\n[Subscribe now](https://www.thestack.technology/membership/)\n\nAlready a member? [Sign in](https://www.thestack.technology/signin/)", "url": "https://wpnews.pro/news/fireworks-crossed-1-billion-in-annual-recurring-revenue-but-what-does-it-do", "canonical_source": "https://www.thestack.technology/fireworks-series-d-custom-ai-model/", "published_at": "2026-07-20 12:52:29+00:00", "updated_at": "2026-07-20 13:00:23.282307+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-startups", "ai-infrastructure", "ai-products"], "entities": ["Fireworks", "Lin Qiao", "Meta", "PyTorch", "Linux Foundation"], "alternates": {"html": "https://wpnews.pro/news/fireworks-crossed-1-billion-in-annual-recurring-revenue-but-what-does-it-do", "markdown": "https://wpnews.pro/news/fireworks-crossed-1-billion-in-annual-recurring-revenue-but-what-does-it-do.md", "text": "https://wpnews.pro/news/fireworks-crossed-1-billion-in-annual-recurring-revenue-but-what-does-it-do.txt", "jsonld": "https://wpnews.pro/news/fireworks-crossed-1-billion-in-annual-recurring-revenue-but-what-does-it-do.jsonld"}}