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883 Groq, an Nvidia Rival, Nears $2.2 Billion-Valuation BlackRock Deal; Musk’s Mystery Company Revealed

The Information
Natasha Mascarenhas @ The Information · 07/10/2024 10:25 EDT

Groq, an Nvidia Rival, Nears $2.2 Billion-Valuation BlackRock Deal; Musk’s Mystery Company Revealed

The startups developing specialized artificial intelligence chips face some heady challenges—most obviously that they’re taking on entrenched giant Nvidia. One challenge they don’t face, though, is a lack of funding. Groq, a startup that develops chips that are specially designed to run large language models, expects to finalize a fundraising of more than $300 million led by mutual fund giant BlackRock in the next two weeks, according to a person who reviewed the deal. The round, which could value the eight

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