Dave Wehner, who has been with Meta since 2012 and served as its CFO from 2014 to 2022, is leaving to join Fireworks, an AI startup valued at $17.5 billion. In his new role, Wehner will focus on scaling the company's finances and operations, as stated by Fireworks CEO Lin Qiao.
Wehner expressed enthusiasm for Fireworks' mission and its technical talent, indicating a strong belief in the company's potential. Fireworks, founded by former Meta and Google employees, provides a platform for developers to customize and run open AI models.
The startup is reportedly in discussions to raise additional funds, potentially increasing its valuation to between $30 billion and $40 billion. Despite its smaller size compared to Meta, which has a market capitalization of approximately $1.56 trillion, Fireworks is positioned in a competitive landscape that includes major players like OpenAI and Anthropic.
However, the company has faced challenges, including a recent security incident involving unauthorized access to internal credentials, although it reported no evidence of customer data breaches. Wehner's move reflects a trend of experienced executives seeking opportunities in smaller, innovative companies within the rapidly evolving AI sector