Nvidia Challenger Groq Could Reach $2.5 Billion in New Funding Round
When was Groq founded and by whom?
Groq was founded in 2016 by a group of former Google engineers, led by Jonathan Ross, one of the designers of the Tensor Processing Unit (TPU), an AI accelerator ASIC, and Douglas Wightman, an entrepreneur and former engineer at Google X (known as X Development).
How much funding is Groq reportedly raising in this round?
Groq is reportedly raising $300 million in its latest funding round, which is expected to value the company at $2.5 billion. The round is being led by Blackrock, and the funds will be used to further develop Groq's specialized server chips and software for artificial intelligence6.
What is the projected valuation of Groq in the upcoming funding round?
Groq, an artificial intelligence chip startup, is set to be valued at $2.5 billion in a new funding round led by Blackrock, according to multiple sources. The new financing has yet to be finalized and terms could change. This valuation is more than double what Groq was valued at when it raised $300 million in a 2021 round led by Tiger Global Management and D1 Capital Partners.