tech
AI chipmaker Groq confirms $650M raise, re-staffs after Nvidia's $20B not-acqui-hire deal
What does an AI company do after one of those not-acqui-hire deals? Groq raised money, is leaning into its neocloud business, and is hiring new execs.
TL;DR
- Groq has raised $650 million in a new funding round.
- The funding follows a deal with Nvidia where Groq's IP was licensed and key talent, including the founder and CEO, was hired by Nvidia.
- Groq is pivoting its business strategy to focus on its neocloud operations.
- The company is actively hiring new executives, including a COO and CTO.
- Groq's previous valuation was $6.9 billion.
- Nvidia has announced its own inference hardware system using Groq's licensed IP.