AI chipmaker Groq confirms $650M raise, re-staffs after Nvidia’s $20B not-acqui-hire deal AI chipmaker Groq has announced a $650 million funding round following a deal where Nvidia licensed Groq’s IP and hired key personnel. The company is now pivoting to its neocloud business and has hired new executives to fill departed roles. Groq’s success hinges on its ability to remain competitive in the inference cloud market, now with shared hardware IP.

• Groq has raised $650 million in a new funding round.
• The funding follows a deal with Nvidia where Groq’s IP was licensed and key talent, including the founder and CEO, was hired by Nvidia.
• Groq is pivoting its business strategy to focus on its neocloud operations.
• The company is actively hiring new executives, including a COO and CTO.
• Groq’s previous valuation was $6.9 billion.
• Nvidia has announced its own inference hardware system using Groq’s licensed IP. Continue reading https://techcrunch.com/2026/06/22/ai-chipmaker-groq-confirms-650m-raise-re-staffs-after-nvidias-20b-not-acqui-hire-deal/