AI chip startup Groq completes $350 million funding round, with NVIDIA participating

Odaily News AI chip startup Groq has completed a $350 million funding round, but the company's valuation has dropped to $3.5 billion—about half of what it was nearly a year ago. The round was led by Dallas-based investment firm Disruptive, with NVIDIA also participating. Founded in 2016, Groq was once considered one of the key competitors to NVIDIA in the AI chip space, focusing on developing specialized hardware for AI computing. The company is now transitioning into an AI data center operator, with a primary focus on serving AI model inference needs. (Bloomberg)