(Bloomberg) Rebellions Inc. secured $124 million from investors including KT Corp. to accelerate the development of a next-generation AI chip, underscoring growing interest in the hardware that drives artificial intelligence.Most Read from BloombergTraders Line Up for ‘Once-in-a-Generation’ Emerging Markets BetBlackstone Is Building a $25 Billion Empire of Power-Hungry Data CentersMusk Says First Neuralink Patient Received Implant in BrainTrump Cash Stockpile at Risk From $450 Million Dual Ve
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AI Computer Chip Biz Groq Closes $300M Series C
Law360 (April 14, 2021, 1:59 PM EDT) Groq, a company that makes devices to assist in high-performance computing and artificial intelligence, said Wednesday it raised $300 million in its Series C funding round that included Tiger Global Management and Paul Weiss-led D1 Capital.
Mountain View, California-based Groq Inc. has now raised a total of $367 million and will use the latest proceeds to continue hiring staff and accelerate work on developing its products, the company said in a statement.
A spokesperson for Groq confirmed to Law360 the company is now valued at more than $1 billion but otherwise declined to comment beyond its public statements.