Groq seeks up to $650 million after $17B NVIDIA licensing deal
Business
Groq, the AI-chip company, is gearing up to raise up to $650 million from its current investors, after signing a $17 billion licensing deal with NVIDIA in December.
The company is switching gears from building hardware to focusing on AI inferencing, which basically means helping smart tech actually understand and respond to what people ask.
Early backers invited to invest
Groq's early backers have already seen big returns thanks to the NVIDIA deal, with one last payout coming their way soon.
Now, they're being invited to invest in a new chapter called "Groq 2.0," backed by supporters Disruptive and Infinitum.
This fresh funding round aims to help Groq stay competitive as it moves deeper into the fast-paced world of AI chips.