Groq valued at $3.5B to rent Nvidia chips
groq raised $350m to pivot to a neocloud model running nvidia gpus, dropping its valuation by nearly 50%.
groq secured $350m in funding, led by disruptive ai with planned participation from nvidia, valuing the company at $3.5b, significantly lower than its previous $6.9b valuation. following the departure of its founder and team to nvidia, groq shifted from developing its own lpus to renting nvidia gpu clusters for training and inference. the firm plans to scale its infrastructure to 13 global data centers and over 200 megawatts of capacity by 2027 to serve 6 million developers.