Groq Raises $750M at $6.9B Valuation, Betting on AI Inference

**Groq Secures $750 Million in Funding, Valued at $6.9 Billion** Reuters reports that artificial intelligence chip startup Groq has successfully raised $750 million in new funding, significantly boosting its valuation to $6.9 billion. This marks a substantial increase from its previous valuation of $2.8 billion in August of last year. The substantial funding round highlights Wall Street's growing commitment to investing in specialized hardware essential for powering advanced AI technologies. The funding round was spearheaded by Dallas-based Disruptive, which contributed nearly $350 million. Notable participation also came from Blackrock, Neuberger Berman, Deutsche Telekom Capital Partners, and a prominent U.S.-based West Coast mutual fund manager. Additional investors in this round included Samsung, Cisco, D1, Altimeter, 1789 Capital, and Infinitum. Groq specializes in AI inference chips, which are engineered to optimize the performance of pre-trained AI models. This strategic focus reflects a broader industry trend that is increasingly prioritizing hardware designed for inference over training-centric chips. Established players like Nvidia and AMD are also intensifying their efforts in this rapidly growing market. Jonathan Ross, Groq's founder and CEO, stated, "Inference is defining this era of AI, and we're building the American infrastructure that delivers it with high speed and low cost." This latest funding follows a separate $1.5 billion commitment Groq received from Saudi Arabia in February, aimed at expanding its AI chip delivery capabilities.