AI startup Groq is reportedly raising $650 million for a new entity

Odaily News AI chip manufacturer Groq Inc. is raising up to $650 million from existing investors to establish a new company, following a $20 billion licensing agreement with Nvidia (NVDA.O). The new company, reportedly called "Groq2," is said to pivot away from chip manufacturing to focus on building "AI neoclouds" services. (Axios)