AI chip startup Groq lands $640M to challenge Nvidia
Groq raised $640 million, increasing its valuation to $2.8 billion. The startup develops LPUs for generative AI, has over 356,000 developers on GroqCloud, and targets enterprise and government sectors for growth.
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Groq, an AI chip startup, has successfully raised $640 million in a funding round led by Blackrock, bringing its total funding to over $1 billion and valuing the company at $2.8 billion. This funding is a significant increase from its previous valuation of approximately $1 billion in April 2021. Groq specializes in developing language processing units (LPUs) designed to accelerate generative AI models, claiming to operate at ten times the speed and one-tenth the energy consumption of traditional processors. The company has appointed Meta's chief AI scientist, Yann LeCun, as a technical advisor and former Intel executive Stuart Pann as COO. GroqCloud, its developer platform, has attracted over 356,000 developers, with plans to expand its capabilities and model offerings. The startup faces stiff competition from Nvidia, which dominates the AI chip market, as well as other tech giants like Amazon, Google, and Microsoft. To strengthen its market position, Groq is focusing on enterprise and government sectors, having recently acquired Definitive Intelligence and partnered with various organizations for chip installations. Additionally, Groq is set to manufacture next-generation 4nm LPUs with Samsung, aiming to deploy over 108,000 LPUs by early 2025.
- Groq raised $640 million, increasing its valuation to $2.8 billion.
- The startup focuses on developing LPUs for generative AI, claiming superior performance and efficiency.
- GroqCloud has over 356,000 developers and plans to expand its offerings.
- The company faces competition from Nvidia and other major tech firms in the AI chip market.
- Groq is targeting enterprise and government sectors for growth and partnerships.
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5 commentsHow is facebook ok with this?
"No, not that Gro[q/k]"
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