# How this Nvidia-backed AI company reached a $17.5B valuation

> Source: <https://ca.finance.yahoo.com/video/nvidia-backed-ai-company-reached-120000681.html>
> Published: 2026-07-17 12:00:00+00:00

Nvidia-backed ([NVDA](https://finance.yahoo.com/quote/NVDA/)) AI company Fireworks has raised $1.5 billion in its latest funding round, bringing its valuation up to $17.5 billion.

Fireworks co-founder and CEO, Lin Qiao, explains why she believes companies must "own their own intelligence."