According to PANews, artificial intelligence startup Fireworks AI has successfully raised $52 million in a funding round. The round was led by Sequoia Capital, with participation from Nvidia, Advanced Micro Devices Inc., and MongoDB Inc. This latest round of funding brings the total amount raised by the company to $77 million, valuing it at $552 million.

Fireworks AI plans to use the new funds to expand its team and broaden its partnerships with other AI companies. The company aims to assist businesses in adopting generative artificial intelligence, allowing them to access over 100 models through its platform.