Nvidia-backed Fireworks hits $17.5 billion valuation as companies pursue cheaper AI models

Per CNBC, Nvidia-backed Fireworks has hit a seventeen-point-five-billion-dollar valuation. Over the past year, the cloud AI platform diversified beyond its reliance on revenue from Cursor, a coding startup, to serve companies seeking lower-cost AI models. That diversification reflects broader industry interest in more affordable AI options.

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