Fireworks AI , a startup that helps companies run artificial intelligence models, is in talks to raise a new round of funding that would value the company at $15 billion, according to people familiar with the matter. Index Ventures, which previously invested in Fireworks, is set to co-lead the round, said one of the people, who asked not to be named because the discussions are private. The funding...
Fireworks AI , a startup that helps companies run artificial intelligence models, is in talks to raise a new round of funding that would value the company at $15 billion, according to people familiar with the matter. Index Ventures, which previously invested in Fireworks, is set to co-lead the round, said one of the people, who asked not to be named because the discussions are private. The funding has not yet been completed, and details are subject to change. Spokespeople for Fireworks and Index Ventures declined to comment. The company is focused on AI inference, or the process of running already-trained AI models, a growing industry buoyed by the current AI boom that is in high demand among investors. Fireworks’ close competitors in the market are startups Baseten Labs Inc., which reached a $5 billion valuation in January, and Features & Labels Inc. — better known as Fal — which was valued at $4.5 billion in December. Founded in 2022 by a group of former Meta Platforms Inc. engineers, Fireworks hit a $4 billion valuation in October when it raised $250 million in funding co-led by Lightspeed Venture Partners, Index Ventures and Evantic. The company counts AI coding startup Cursor among its customers.
(Bloomberg) -- Fireworks AI, a startup that helps companies run artificial intelligence models, is in talks to raise a new round of funding that would value the company at $15 billion, according to people familiar with the matter. Most Read from Bloomberg Index Ventures, which previously invested in Fireworks, is set to co-lead the round, said one of the people, who asked not to be named because t...
The collapse of UN talks on the future of the Nuclear Non-Proliferation Treaty has sharpened concern in Japan that outer space could become the next arena for nuclear and military rivalry. With Russia accused of developing a nuclear anti-satellite capability, China and Russia advancing weapons that can disable satellites, and the US pursuing space-based missile defence systems, some in Tokyo say J...
The collapse of UN talks on the future of the Nuclear Non-Proliferation Treaty has sharpened concern in Japan that outer space could become the next arena for nuclear and military rivalry. With Russia accused of developing a nuclear anti-satellite capability, China and Russia advancing weapons that can disable satellites, and the US pursuing space-based missile defence systems, some in Tokyo say Japan should take the lead in drawing up new rules for the peaceful use of space. Analysts say any binding agreement would be difficult, given the polarisation of major powers and deepening geopolitical rivalries, but Japan has unusual credibility as a space-capable nation, a strong supporter of nuclear non-proliferation and the only country to have suffered a nuclear attack. Advertisement The Japanese government expressed disappointment on Monday after one month of discussions at the UN in New York failed to adopt a document on the future of the Nuclear Non-Proliferation Treaty. UN rules require the final document to be adopted unanimously, but that could not be achieved. Similar review conferences failed to reach a final document in 2015 and 2022. Chief Cabinet Secretary Minoru Kihara says Japan will “persistently and steadily advance realistic and practical efforts” to achieve a world free of nuclear weapons. Photo: Kyodo Chief Cabinet Secretary Minoru Kihara on Monday called the failure “extremely regrettable” but said Japan would “persistently and steadily advance realistic and practical efforts” to achieve a world free of nuclear weapons.
The US is touting progress toward a peace deal with Iran to end the nearly three-month war, despite fresh hostilities and uncertainty over the Strait of Hormuz. Bloomberg's Derek Wallbank has the latest. (Source: Bloomberg)
The US is touting progress toward a peace deal with Iran to end the nearly three-month war, despite fresh hostilities and uncertainty over the Strait of Hormuz. Bloomberg's Derek Wallbank has the latest. (Source: Bloomberg)
The Blackwell systems will be installed at its Texas data center. In this photo illustration, the IREN Limited logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading.....
The Blackwell systems will be installed at its Texas data center. In this photo illustration, the IREN Limited logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images) Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Loading... Commissioning for the project is slated to begin in early 2027. The cloud contract is projected to increase IREN’s annualized run-rate revenue (ARR) from $3.7 billion to $4.4 billion. 14 analysts have a 12-month price target of $75, representing nearly 26% upside from Tuesday’s closing price. IREN Limited (IREN) share price gained nearly 1% after-hours after the company finalized a $1.6 billion purchase agreement with Dell Technologies for advanced, air-cooled Blackwell systems. The hardware procurement is designed to support a previously announced five-year, $3.4 billion AI cloud contract with Nvidia. The multi-billion-dollar acquisition includes GPUs, servers, storage, networking components, integration services and ancillary equipment, with payment structured on a post-shipment basis. Read Next Loading... Loading... The air-cooled systems will be integrated into the infrastructure at IREN’s Childress, Texas data center campus. Commissioning for the project is slated to begin in early 2027. Company executives stated that the transaction aims to accelerate "time-to-compute," which they identify as a primary constraint facing the artificial intelligence sector. "Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything," said Daniel Roberts, co-founder and co-CEO of IREN in a press release. Roberts added that owning the physical infrastructure, operational capabilities and computing layers allows the firm to scale effectively for enterprise clients and hyperscalers. Once fully commissioned, the new A...
14 analysts have a 12-month price target of $75, representing nearly 26% upside from Tuesday’s closing price. The cloud contract is projected to increase IREN’s annualized run-rate revenue (ARR) from $3.7 billion to $4.4 billion. Commissioning for the project is slated to begin in early 2027. IREN Limited (IREN) share price gained nearly 1% after-hours after the company finalized a $1.6 billion pu...
14 analysts have a 12-month price target of $75, representing nearly 26% upside from Tuesday’s closing price. The cloud contract is projected to increase IREN’s annualized run-rate revenue (ARR) from $3.7 billion to $4.4 billion. Commissioning for the project is slated to begin in early 2027. IREN Limited (IREN) share price gained nearly 1% after-hours after the company finalized a $1.6 billion purchase agreement with Dell Technologies for advanced, air-cooled Blackwell systems. The hardware procurement is designed to support a previously announced five-year, $3.4 billion AI cloud contract with Nvidia. The multi-billion-dollar acquisition includes GPUs, servers, storage, networking components, integration services and ancillary equipment, with payment structured on a post-shipment basis. The air-cooled systems will be integrated into the infrastructure at IREN’s Childress, Texas data center campus. Commissioning for the project is slated to begin in early 2027. Company executives stated that the transaction aims to accelerate "time-to-compute," which they identify as a primary constraint facing the artificial intelligence sector. "Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything," said Daniel Roberts, co-founder and co-CEO of IREN in a press release. Roberts added that owning the physical infrastructure, operational capabilities and computing layers allows the firm to scale effectively for enterprise clients and hyperscalers. Once fully commissioned, the new AI cloud contract is projected to increase IREN’s annualized run-rate revenue (ARR) from $3.7 billion to $4.4 billion, the company said in a statement. The company plans to secure dedicated GPU financing to fund the deployment, mirroring strategies used in its previous hardware rollouts. IREN’s Recent Deal Activity In November 2025, IREN finalized a five-year, $9.7 billion AI cloud contract with Microsoft to provide access to next-generation ...