Groq Secures $750 Million Funding to Meet Rising AI Inference Demand
In a significant move to address the burgeoning demand for AI inference, Groq has announced that it has raised $750 million in a new funding round, valuing the company at $6.9 billion post-money. This funding round was spearheaded by Disruptive, with notable contributions from Blackrock, Neuberger Berman, Deutsche Telekom Capital Partners, and a major mutual fund manager based on the U.S. West Coast. Additional backing came from existing investors like Samsung, Cisco, D1, Altimeter, 1789 Capital, and Infinitum, reinforcing Groq's stature in the AI landscape.
Groq is at the forefront of delivering rapid and cost-effective computing solutions, serving over two million developers, along with Fortune 500 companies. The company's global outreach is supported by its existing data centers located in North America, Europe, and the Middle East, providing essential infrastructure for a range of AI applications.
Jonathan Ross, the founder and CEO of Groq, emphasized the critical role of inference in the current AI era, stating, "Inference defines the AI age, and we are building the American infrastructure that delivers it at high speed and low cost."
The recent White House decree promoting the global deployment of U.S.-made AI technology underscores Groq's pivotal role in this initiative. Groq's unique infrastructure for inference is designed and built in the U.S., enabling it to support developers and corporations around the globe in their AI endeavors.
Disruptive, a Dallas-based growth investment firm, has a track record of backing transformative companies over the past decade, including giants like Palantir, Airbnb, Spotify, and several others in the AI sector. They have invested nearly $350 million in Groq, reflecting their confidence in the company's potential.
Alex Davis, founder, president, and CEO of Disruptive, remarked, "As AI continues to evolve, the infrastructure underpinning it will be as crucial as the models themselves. Groq is constructing these essential foundations, and we are excited to partner with Jonathan and his team for this next chapter of explosive growth."
Founded in 2016, Groq's mission is to provide the necessary speed and cost-effectiveness for AI inference infrastructure. With innovations like its LPU and GroqCloud, the company ensures that computation becomes faster and more accessible. As it stands, Groq is now an integral part of the American AI Stack, trusted by millions of developers and many of the largest corporations in the Fortune 500.
For media inquiries, Groq can be contacted directly at [email protected].
This funding round not only cements Groq's leadership in AI infrastructure but also highlights the increasing investment and attention focused on AI technologies as they become essential for businesses and developers alike. As companies and developers continue to seek the most efficient means of performing AI tasks, Groq is well-positioned to meet this demand with their innovative computing solutions, paving the way for the future of artificial intelligence.
Groq is at the forefront of delivering rapid and cost-effective computing solutions, serving over two million developers, along with Fortune 500 companies. The company's global outreach is supported by its existing data centers located in North America, Europe, and the Middle East, providing essential infrastructure for a range of AI applications.
Jonathan Ross, the founder and CEO of Groq, emphasized the critical role of inference in the current AI era, stating, "Inference defines the AI age, and we are building the American infrastructure that delivers it at high speed and low cost."
The recent White House decree promoting the global deployment of U.S.-made AI technology underscores Groq's pivotal role in this initiative. Groq's unique infrastructure for inference is designed and built in the U.S., enabling it to support developers and corporations around the globe in their AI endeavors.
Disruptive, a Dallas-based growth investment firm, has a track record of backing transformative companies over the past decade, including giants like Palantir, Airbnb, Spotify, and several others in the AI sector. They have invested nearly $350 million in Groq, reflecting their confidence in the company's potential.
Alex Davis, founder, president, and CEO of Disruptive, remarked, "As AI continues to evolve, the infrastructure underpinning it will be as crucial as the models themselves. Groq is constructing these essential foundations, and we are excited to partner with Jonathan and his team for this next chapter of explosive growth."
Founded in 2016, Groq's mission is to provide the necessary speed and cost-effectiveness for AI inference infrastructure. With innovations like its LPU and GroqCloud, the company ensures that computation becomes faster and more accessible. As it stands, Groq is now an integral part of the American AI Stack, trusted by millions of developers and many of the largest corporations in the Fortune 500.
For media inquiries, Groq can be contacted directly at [email protected].
This funding round not only cements Groq's leadership in AI infrastructure but also highlights the increasing investment and attention focused on AI technologies as they become essential for businesses and developers alike. As companies and developers continue to seek the most efficient means of performing AI tasks, Groq is well-positioned to meet this demand with their innovative computing solutions, paving the way for the future of artificial intelligence.
Topics Business Technology）
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