Nvidia challenger Groq is set to double its valuation to $2.5 billion in fresh funding round led by Blackrock [Business Insider]
Morgan Stanley (MS)
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Source: Business Insider
It is set to be valued at $2.5 billion in a funding round led by Blackrock, according to sources. The new financing has yet to be finalized and terms could change. Groq, a scrappy challenger to Nvidia that is developing chips powering artificial intelligence, is set to be valued at $2.5 billion in a new funding round led by Blackrock, according to multiple sources. Groq and Blackrock declined to comment. Groq has been rumored to be raising a new round and recently hired Morgan Stanley to help raise $300 million in new funding, the Information previously reported last month. The valuation and lead investor have not been previously reported. Related stories The new financing has yet to be finalized and terms could change. The deal would more than double what Groq was valued at when it raised $300 million in a 2021 round led by Tiger Global Management and D1 Capital Partners, according to Pitchbook data. The company has raised a total of $367 million. Groq was founded in 2
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