According to CoinMeta, AI code testing company Blacksmith has announced the completion of a $66 million Series C financing round, led by Sequoia Capital, with a valuation reaching $1 billion. The company was founded in 2024, and its valuation was only $550 million during its Series B financing in March of this year. Blacksmith is a specialized tool that helps developers quickly handle compilation and testing tasks. Since January of this year, Blacksmith has increased the number of code compilation and testing tasks it handles per week from 5 million to over 90 million, a growth of about 18 times. During the same period, the company's annual recurring revenue increased by 17 times, and it now has more than 10,000 customers, including Langchain, Granola, and others. Blacksmith claims that its services can double the testing speed and reduce costs by 60%. Most of the funds from this financing will be used to purchase computing power, with plans to expand the computing capacity by at least 5 times by 2027.