Groq, a Mountain View, CA-based company which specializes in fast AI inference, has secured a $640M Series D, at $2.8 Billion valuation.
The round was led by BlackRock Private Equity Partners with participation from both existing and new investors including Neuberger Berman, Type One Ventures, and strategic investors including Cisco Investments, Global Brain’s KDDI Open Innovation Fund III, and Samsung Catalyst Fund.
The company intends to use the funds to scale the capacity of its tokens-as-a-service (TaaS) offering and add new models and features to GroqCloud. It aims to deploy more than 100,000 additional LPUs into GroqCloud.
Led by CEO Jonathan Ross, Groq builds fast AI inference technology. The company provides cloud and on-prem solutions at scale for AI applications. Its Groq® LPU™ AI inference technology is a hardware and software platform that delivers AI compute speed, quality, and energy efficiency.
The company has quickly grown to over 360,000 developers building on GroqCloud™, creating AI applications on openly-available models such as Llama 3.1 from Meta, Whisper Large V3 from OpenAI, Gemma from Google, and Mixtral from Mistral.
Today, the company also announced that Stuart Pann, formerly a senior executive from HP and Intel, joined its leadership team as Chief Operating Officer. Groq also gains the expertise of its newest technical advisor, Yann LeCun, VP & Chief AI Scientist at Meta.
FinSMEs
05/08/2024