Groq has successfully raised $350 million, valuing the company at $3.5 billion as it transitions from an AI chipmaker to a neocloud provider. This funding, led by Disruptive and with expected participation from Nvidia, follows a previous $650 million round aimed at supporting its pivot to cloud services utilizing Nvidia's infrastructure.
The company currently operates 13 data centers globally, serving over 6 million clients. Groq aims to significantly increase its operational capacity by 2027, focusing on AI inference services, although the long-term profitability of neoclouds remains uncertain amid rising competition and capital demands.