Groq Raises $640M to Enhance AI Inference Speed

AI chip startup Groq Inc. has successfully raised $640 million in Series D funding, led by BlackRock, boosting its valuation to $2.8 billion.

Founded by former Google engineer Jonathan Ross, Groq is setting its sights on competing with industry giants like Nvidia. The company has developed an innovative Language Processing Unit (LPU) designed to achieve high-speed AI inference.

Groq recently achieved a significant milestone by setting a speed record with Meta's Llama 2 model, processing over 300 tokens per second. The new funding will be utilized to expand GroqCloud, enabling developers to access powerful AI models such as Meta's Llama 3.1 and OpenAI’s Whisper.

In line with its growth plans, Groq is also expanding its team to support this development, empowering developers to build on open AI models.

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