Nvidia Challenger Groq Discusses $6 Billion Valuation

Groq, an Nvidia challenger that develops chips to power large language models, has talked to investors about raising between $300 million to $500 million at a $6 billion post-investment valuation, according to two people with direct knowledge of the fundraising effort.

The deal discussions come as the company told investors its revenue will more than quintuple this year. If completed, the deal would double the startup’s post-investment valuation of $2.8 billion from an equity financing a year ago.