AI chip startup Groq raises $640m in Series D, reaching $2.8bn valuation and challenging Nvidia's dominance.

AI chip startup Groq, founded by a former Alphabet engineer, has raised $640m in Series D funding, bringing its valuation to $2.8bn. Groq specializes in producing AI inference chips and aims to challenge Nvidia's dominance in the AI chip industry. The company will use the funding to scale its tokens-as-a-service (TaaS) offering, add new models to its GroqCloud platform, and deploy over 108,000 Language Processing Units by Q1 2025.

August 05, 2024
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