Sequoia, Nvidia Back Fireworks AI at $552 Million Valuation (1)

Startup Fireworks AI notched a valuation of $552 million in a funding round led by Sequoia Capital, a significant milestone for the two-year-old artificial intelligence company.

Sequoia, along with investors including Nvidia Corp., Advanced Micro Devices Inc. and MongoDB Inc. put $52 million into the company in the funding round, brining its total cash haul to $77 million.

Fireworks’ tools aim to make it easier for companies to adopt generative AI, allowing them to access more than 100 models using its platform. Most businesses don’t have a large team helping them incorporate AI into their workflows and processes, ...