Groq, a US startup that develops AI chips and operates data centers for AI inference, announce on Aug. 17 that it raised US$350 million at a US$3.5 billion valuation in a round led by Dallas-based investment firm Disruptive.

A Groq representative said Nvidia would also invest.

The valuation is about half of Groq’s US$6.9 billion valuation in September 2025, before Nvidia entered a non-exclusive licensing deal with Groq and hired founder Jonathan Ross and other employees.

Since then, Groq has shifted to AI inference infrastructure.

Its June 22 US$650 million round was led by Disruptive and Infinitum to expand its inference cloud, and Groq said it operates 13 data centers across North America, Europe, the Middle East, and Asia-Pacific.

The company plans to use some of the new funding to expand total capacity to more than 200 megawatts by next year.

Groq’s June release said the company was led by CEO Adam Winter. Simon Edwards had become CEO after Ross departed under the Nvidia deal.

🔗 Source: Bloomberg

Recent Groq developments