AI chipmaker Groq raises $300M in Series C round
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Artificial intelligence and machine learning chip startup Groq Inc. said today it has raised $300 million in a new round of funding that brings its total amount raised to $367 million.
The Series C round was co-led by Tiger Global Management and D1 Capital, and also saw the participation of The Spruce House Partnership, Addition, GCM Grosvenor, Xⁿ, Firebolt Ventures, General Global Capital and Tru Arrow Partners. Previous investors TDK Ventures, XTX Ventures, Boardman Bay Capital Management and Infinitum Partners also participated with follow-on investments.
Groq has developed what it calls a “tensor streaming processors” that it claims is the fastest single-core chip in the industry, tailor-made for running AI training tasks. If the term “tensor processing” sounds familiar, that’s because Groq’s founders include a couple of key individuals, including Chief Executive Jonathon Ross, who
Groq Closes $300 Million Fundraise apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
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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.
This Startup Is Building a Chip to Save Traders Vital Microseconds South Korea-based Rebellions aims to build a chip that runs AI more efficiently to speed up high-frequency trades.
Bloomberg | Apr 14, 2021
Hooyeon Kim and Whanwoong Choi (Bloomberg) In the unfathomably fast realm of high-frequency trading, a South Korean startup’s plan to build a microchip that speeds markets up by a few microseconds is bound to get some attention.
The company, Rebellions Inc., was set up six months ago in Seoul by Park Sunghyun, who used to work as a quant developer at Morgan Stanley in New York, with two partners. The chip they’re developing aims to run artificial intelligence more efficiently, which could cut precious millionths of a second off the reaction times of automatic-trading machines.
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