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

Fireworks founders pose for a photo at the startup's headquarters in San Mateo, California. From left in front row: Chenyu Zhao, CEO Lin Qiao and Benny Chen. Back row: James Reed, Pawel Garbacki, Dmytro Ivchenko and Dmytro (Dima) Dzhulgakov.FireworksThe cost of the latest artificial intelligence models is increasingly breeding anxiety among finance executives, who have started directing employees to consider open-source alternatives.That's boosting cloud startup Fireworks, which competes with Am...

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