Groq targets $650 million fundraise after Nvidia licensing deal: Report

Groq is raising up to $650 million from existing investors, Axios reported on Thursday, after the AI chip startup signed a $17 billion licensing deal with Nvidia in December.

Groq has ‌been ⁠shifting focus ⁠away from hardware toward AI inferencing, where it specialises in enabling trained AI models to respond to user requests.

The startup’s investors have already received payouts, with ​a final cash distribution ⁠expected soon ‌through the Nvidia deal, ​Axios ​reported.