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Discover the latest move in the AI sector, where Groq, an AI inference startup, has secured a whopping $640 million in their recent Series D funding. This landmark funding round, participated by giants like BlackRock and Neuberger Berman, propels Groq closer to industry leader NVIDIA, despite the looming challenges in the AI hardware market. Explore more about how this funding could reshape the competitive landscape in AI technology. Don't miss out on the detailed insights provided by Mark Beccue and Chirag Dekate, Ph.D. in this intriguing read! https://lnkd.in/eiCpe-Rn #AI #ArtificalIntelligence

🚨 Groq's remarkable funding success has just gotten even more exciting! Not only is the tech world buzzing with anticipation, but we at Assured Asset Management are thrilled to have also participated in this groundbreaking investment round! 🥳 As passionate believers in the transformative power of frontier technologies, we recognized Groq's immense potential early on. Our investment strategy focuses on identifying disruptive companies that can shape the future of their respective industries, and Groq fits this bill perfectly! Groq's innovative inference chip technology addresses a critical bottleneck in AI deployment—the need for faster, more efficient, and cost-effective processing. By revolutionizing AI hardware, they are paving the way for countless real-world applications, from data centers to edge devices. This aligns perfectly with our vision of supporting companies that drive technological progress and create long-term value. https://lnkd.in/gmgPGK65 Groq will be also be pivotal as Gen AI LLMs as a whole makes the transition from training to inferesnce and Groq looks poised to take a front seat in this drive. Do check out Groq’s play ground and try it out to see the speed of inference. https://lnkd.in/g_KVi_6b #GroqRevolution hashtag#AIChipBreakthrough hashtag#TechInnovation hashtag#FutureOfAI

Exciting developments in the AI world: Groq, an innovative chip startup, has just landed a staggering $640 million in Series D funding. This impressive haul boosts their valuation to $2.8 billion, marking them as a serious player in the tech arena. Industry heavyweights Cisco Investments, Samsung Catalyst Fund, and BlackRock Private Equity Partners are leading the charge, clearly seeing massive potential in Groq's vision. What sets Groq apart? Founded by former Google executive Jonathan Ross, the company is revolutionizing AI hardware with their laser focus on inference chips. These specialized processors promise groundbreaking speed and cost advantages, potentially reshaping the entire AI landscape. With this fresh influx of capital, Groq is poised to accelerate their innovations and challenge the status quo in the competitive AI chip market. The tech world is buzzing with anticipation - Groq's next moves could redefine the future of AI processing. #GroqRevolution #AIChipBreakthrough #TechInnovation #FutureOfAI For more details, check out: https://pse.is/6as7tc

Groq, a startup developing chips to run generative AI models faster than conventional processors, said on Monday that it has raised $640 million in a new funding round led by BlackRock. Neuberger Berman, Type One Ventures, Cisco, KDDI Corporation and Samsung Catalyst Fund also participated. The tranche, which brings Groq’s total raised to over $1 billion and values the company at $2.8 billion, is a major win for Groq, which reportedly was originally looking to raise $300 million at a slightly lower ($2.5 billion) valuation. It more than doubles Groq’s previous valuation (~$1 billion) in April 2021, when the company raised $300 million in a round led by Tiger Global Management and D1 Capital Partners L.P. Meta chief AI scientist Yann LeCun will serve as a technical advisor to Groq and Stuart Pann, the former head of Intel Corporation’s foundry business and ex-CIO at HP, will join the startup as chief operating officer, Groq also announced today. LeCun’s appointment is a bit unexpected, given Meta’s investments in its own AI chips — but it undoubtedly gives Groq a powerful ally in a cutthroat space. Groq, which emerged from stealth in 2016, is creating what it calls an LPU (language processing unit) inference engine. The company claims its LPUs can run existing generative AI models similar in architecture to OpenAI’s ChatGPT and GPT-4o at 10x the speed and one-tenth the energy. #groq #ai #genai #openai #chatgpt #tech #news https://lnkd.in/giPn2GUc

The Token Wars of the chip startups. Why the fight for the fastest inference will influence the future of AI. „Today, Cerebras, SambaNova, and Groq are all delivering over 1,000 tokens per second, and the “token wars” have revved up considerably. At the end of August, Cerebras claimed it had launched the “world’s fastest AI inference” at 1,800 tokens per second, and last week Cerebras said it had beaten that record and become the “first hardware of any kind” to exceed 2,000 tokens per second on one of Meta’s Llama models. “ „AI models are quickly being used to power far more complex applications than just chat.“ Cerebras CEO Andrew Feldman simplifies why: „Nobody’s going to build a business on an application that makes you sit around and wait“. A piece by Sharon Goldman at Fortune. https://lnkd.in/eMs7Pxux

The $2.8 Billion AI Startup Taking On NVIDIA Armed with a newly raised $640 million, Groq CEO Jonathan Ross thinks it can challenge one of the world’s most valuable companies with a purpose-built chip designed for AI from scratch. They explained the difference between LPUs and GPUs and ….. #Growth #AI #Startup #Investment #LPU #Forbes l YouTube l Forbes l Richard Nieva

Scale AI valued at $14 billion in Nvidia, Amazon-backed funding round Top tech companies are swiftly integrating AI into their products and services. Startups that meet the growing demand for AI chips and machine learning have become a bright spot in the otherwise slow private funding market. #ScaleAI #AIInvestment #TechFunding #MachineLearning #EnterpriseData #DEFCON31 #AIInnovation #VentureCapital #TechNews #AIStartups #USDepartmentOfDefense #AIResearch #SafeAI #AIInitiatives #BigData #SiliconValleyTech #EmergingTech #FutureOfAI #AIandDefense #AIandTechIndustry #StartupGrowth #TechInvestors #AIIn2024 #InnovativeTech #DataScience #NextGenAI #BusinessNews #Keralanews #Kerala #BusinessReviewLive #BRL #Keralabusiness

Groq, a startup developing chips to run generative AI models faster than conventional processors, said on Monday that it has raised $640 million in a new funding round led by Blackrock. Neuberger Berman, Type One Ventures, Cisco, KDDI and Samsung Catalyst Fund also participated. The tranche, which brings Groq’s total raised to over $1 billion and values the company at $2.8 billion, is a major win for Groq, which reportedly was originally looking to raise $300 million at a slightly lower ($2.5 billion) valuation. It more than doubles Groq’s previous valuation (~$1 billion) in April 2021, when the company raised $300 million in a round led by Tiger Global Management and D1 Capital Partners. Meta chief AI scientist Yann LeCun will serve as a technical advisor to Groq and Stuart Pann, the former head of Intel’s foundry business and ex-CIO at HP, will join the startup as chief operating officer, Groq also announced today. LeCun’s appointment is a bit unexpected, given Meta’s investments in its own AI chips — but it undoubtedly gives Groq a powerful ally in a cutthroat space. Groq, which emerged from stealth in 2016, is creating what it calls an LPU (language processing unit) inference engine. The company claims its LPUs can run existing generative AI models similar in architecture to OpenAI’s ChatGPT and GPT-4o at 10x the speed and one-tenth the energy. https://lnkd.in/gXbDjRrA

💡 💫 Our Head of Investment Research Awet Ghirmay shares his insights on the significance of AI investment and its potential to transform industries. 🎙 Tune in to our latest Intelligent Wealth podcast Episode 7 on Automation and Robotics, NOW available! 📌 Join Awet Ghirmay, Tony Byrne (Managing Director of Minerva Money Management), and Carl Roberts, FPFS (Director) as they explore the future of investments, automation, and AI. 🧐 🌟 🔗 Watch the podcast here: https://lnkd.in/erDnkfZi