Report: AI startup Groq seeks $300 million

April 05, 2021 // By Peter Clarke
Report: AI startup Groq seeks $300 million
Groq Inc. (Mountain View, Calif.), a well-funded startup that spun out of Google's tensor processing unit research, is in discussions on a $300 million funding round, according to a Financial Times report.

Groq, the developer of the A0 Tensor Streaming Processor, raised $60 million across two early rounds and then raised a third round in 2020 (see Groq gains funds to expand tensor AI applications). That round is reputed to be worth $250 million.

Now Groq is in discussion with Tiger Global Management about leading a $300 million round, which would value the company at about $1 billion, the FT report said citing people briefed on the talks. It remains unclear whether Tiger Global Management is trying to belatedly join the previous round or is seeking to finance an entirely new round.

The company was formed in 2016 and its A0 TSP is claimed to be capable of up to 250 trillion floating-point operations per second (FLOPS). The architecture is based on a software-first philosophy that allows it to support both traditional and new machine learning models. Groq claims its TSP architecture achieves both compute flexibility and parallelism without the synchronization overhead of traditional GPU and CPU architectures.

Groq is one of several startup companies in an funding race to try and develop chips to unseat the de facto incumbent Nvidia. These include Graphcore and SambaNova

Related links and articles:

www.groq.com

News articles:

Groq gains funds to expand tensor AI applications

Groq enters production with A0 tensor processor

$222m round values Graphcore at over $2.7bn

Baidu AI chip funding values subsidiary at US$2 billion

Funds flood hardware startups, SambaNova raises $250 million

Qualcomm buys data centre chip unicorn Nuvia to take on Apple


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