Groq Closes $300 Million Fundraise

By sustaining capital effectivity, this newest funding permits Groq to develop throughout industries whereas elevating the corporate’s efforts to rent high expertise and accelerating its next-generation merchandise in growth. According to a number of revealed analyst studies,* the full accessible marketplace for AI semiconductors is projected to achieve $65 billion to $100 billion by 2025.

“AI is limited by existing systems, many of which are being followed or incrementally improved upon by new entrants. No matter how much money you throw at the problem, legacy architectures like GPUs and CPUs struggle to keep up with the growing demands of artificial intelligence and machine learning,” stated Jonathan Ross, Groq Founder and CEO. “Our mission is more disruptive: Groq seeks to unleash the potential of AI by driving the cost of compute to zero.”

The spherical was co-led with funding from Tiger Global Management and D1 Capital. Further funding comes from The Spruce House Partnership, Addition, GCM Grosvenor, Xⁿ, Firebolt Ventures, General Global Capital, and Tru Arrow Partners, in addition to follow-on investments from TDK Ventures, XTX Ventures, Boardman Bay Capital Management, and Infinitum Partners. The high quality of Groq’s buyers displays deep experience in figuring out excessive progress corporations which have a daring imaginative and prescient for a way expertise can change the world with breakthrough innovation.

“We are excited to partner with Groq as they continue building a world-class AI chip that is uniquely capable of addressing both inference and training applications,” stated Scott Shleifer, Partner at Tiger Global Management. “We were impressed by Groq’s software first approach, innovative architecture, and focus on customer success.”

“We are more than doubling-down on our investment in Groq,” stated Nicolas Sauvage, Managing Director, TDK Ventures. “Their elegant AI chipset architecture is impressive and will have a powerful impact for our planet. Scaling traditional compute consumes enormous energy. Groq’s solution delivers order-of-magnitude more efficient compute-per-energy performance at scale, thereby improving the carbon footprint of hyperscale data centers, an ideal about which TDK Ventures is very passionate.”

Groq’s tensor streaming processor (TSP) structure is the {industry}’s quickest single core chip and eliminates the shortcomings of conventional computing. The Groq chip is simpler to program, offering 10x decrease latency in comparison with main opponents. For extra details about the corporate’s modern accelerator structure go to groq.com/technology.

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About Groq
Headquartered in Mountain View, CA with distant groups throughout the US and Canada, Groq delivers industry-leading efficiency, accuracy and sub-millisecond latency with environment friendly, software-driven options for compute-intensive purposes. Groq redefines compute by specializing in key expertise improvements: software-defined compute, silicon innovation and developer velocity. For extra info, go to: www.groq.com.

Groq Media Relations Contact
Sander Arts
Groq, Inc.
+1 (408) 839-9780
[email protected]

Sources:
*Statista Report, November 2020: Estimated size of the artificial intelligence AI semiconductor market worldwide from 2017 to 2025, $65 billion by 2025
*Omdia 2021 Database: Omdia AI Chipsets for Edge Forecast Report, ~$71 billion by 2025
*Allied Market Research: Artificial Intelligence Chip Market Outlook by 2025, $91 billion by 2025
*As cited in Analytics Insight, referencing IHS Markit report: Potential expansion of AI market in Semiconductor and its Significance, $128.9 billion by 2025

SOURCE Groq

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https://www.groq.com

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