Svmuu News: AI infrastructure startup Fireworks AI announced that it has raised $1.5 billion in funding, bringing the company’s valuation to $17.5 billion. The company, which has previously received support from NVIDIA (NVIDIA), primarily provides developers with open-source AI model cloud-based runtime services, helping enterprises deploy AI applications at a lower cost.This funding round was led by Atreides Management, Index Ventures, and TCV, with participation from NVIDIA, Evantic, and Lightspeed Venture Partners, among others.Currently, Fireworks processes approximately 400 trillion AI tokens daily. The company’s clients include Elastic, GitLab, and MongoDB. Previously, more than half of its revenue came from the AI programming tool Cursor, but its client base has since become more diversified. (CNBC)