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Groq raises $640 million to scale its AI inference platform, enhancing speed and efficiency of pre-trained models, led by a former Alphabet engineer.
Groq, a semiconductor startup specialising in AI inference chips, has raised $640 million in a Series D funding round led by Cisco Investments, Samsung Catalyst Fund, and BlackRock Private Equity Partners. This latest funding round elevates the company’s valuation to $2.8 billion.
The funding will help Groq expand its “tokens-as-a-service” (TaaS) offering and enhance GroqCloud with new models and features. By the end of the first quarter of 2025, Groq plans to deploy over 108,000 Language Processing Units, manufactured by Global Foundries
Groq also announces key leadership changes: Stuart Pann, a former senior executive at Intel and HP Inc, joins as Chief Operating Officer, and Yann LeCun, Meta’s Chief AI Scientist, becomes the newest technical adviser.
Founded by a former Alphabet engineer, Groq focuses on producing semiconductors designed to enhance the speed and efficiency of AI models. The company aims to provide alternatives to Nvidia’s dominant position in the AI chip market.
