Nvidia AI chip challenger Groq said to be nearing new fundraising at $6B valuation

AI chip startup Groq is in talks to raise a fresh $600 million at a near $6 billion valuation, sources tell Bloomberg, although the deal isn’t yet final and terms could change. 

Groq raised $640 million at a $2.8 billion valuation in August 2024, making this double the valuation in about a year. Groq previously raised about $1 billion.

The new round is led by Austin-based firm Disruptive, Bloomberg reports. The November round was led by BlackRock, with participation from Neuberger Berman, Type One Ventures, Cisco, KDDI, and Samsung Catalyst Fund.

Groq was founded by Jonathan Ross, who previously worked at Google developing its Tensor Processing Unit chip. The startup emerged from stealth in 2016.

This new raise comes after Groq announced in May an exclusive partnership with Bell Canada to power the telco’s large AI infrastructure project. In April, Groq partnered with Meta to offer AI infrastructure to speed Llama 4 inference. Neither Disruptive nor Groq immediately returned our request for comment.

Correction: This story originally incorrectly reported the date of the last raise.