NVDA - Nvidia Rival Groq Set To Double Valuation To $2.5B With BlackRock-Led Funding Round: Report | Benzinga
Jonathan Ross, the CEO and founder of Groq, a company that specializes in chips for AI and is a rival of Nvidia Corp. (NASDAQ:NVDA), is on the brink of doubling his company’s valuation to $2.5 billion with a new funding round led by BlackRock Inc.
What Happened: Groq (not to be confused with Elon Musk’s Grok), which was established in 2016, is set to be valued at $2.5 billion in a new funding round led by BlackRock, reported Business Insider on Wednesday, citing multiple sources. The deal is yet to be finalized, and the terms could still change.
The new funding round could potentially double Groq’s previous valuation, which was $300 million in a 2021 round led by Tiger Global Management and D1 Capital Partners, according to Pitchbook data. The company has raised a ...