AI chip startup Groq lands $640M to challenge Nvidia

Quick Summary:

Groq, a startup developing chips to run generative AI models faster than conventional processors, said on Monday that it’s raised $640 million in a new funding round led by Blackrock.

Neuberger Berman, Type One Ventures, Cisco, KDDI and Samsung Catalyst Fund also participated.

As the generative AI boom continues, Groq faces increasing competition from both rival AI chip upstarts and Nvidia, the formidable incumbent in the AI hardware sector.

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Article Details

Author / Journalist: Kyle Wiggers

Category: StartupsBusiness

Markets: United StatesIndiaNorwaySaudi Arabia

Topics: Startups Funding Generative AI Groq Fundraising AI Chips

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 11:00:00 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 1576 words

Reading Time: 9 minutes read

Sentences: 64 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © TechCrunch

News ID: 21930597

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