Groq’s $650M raise: rebuilding after the Nvidia deal
Groq has confirmed a $650mn raise to rebuild itself as an AI inference cloud, six months after Nvidia paid out its investors and hired away its founder. The Groq $650M round is a bet that purpose-built chips still beat GPUs.
Groq spent years as one of the loudest challengers to Nvidia. Then, last December, Nvidia all but took it apart.
Now the company has confirmed how it plans to rebuild. Groq raised $650mn in a round led by Disruptive and Infinitum, it said, with existing backers reinvesting alongside them.
The raise was first reported in May. The company has now closed it, and named the team that will spend it.
What Nvidia left behind
In December, Nvidia struck a non-exclusive licensing deal for Groq’s chip technology, in an arrangement reported to be worth around $20bn. It hired away founder and chief executive Jonathan Ross, president Sunny Madra and...
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