Groq Raises $350M to Pivot From AI Chips to Neocloud
Groq, the AI hardware startup that built specialized language processing chips, has raised $350 million at a $3.5 billion valuation as it pivots from chip design to running a neocloud business powered by Nvidia hardware. The company, once known for its custom LPU (language processing unit) inference chips, is shifting its strategy to operate Nvidia-powered data centers and offer cloud compute services for AI workloads. The pivot reflects the difficulty of competing with Nvidia's dominant GPU ec









