Latest news with #CiscoInvestments
Zawya
6 days ago
- Business
- Zawya
AI chip startup Groq discusses $6bln valuation, The Information reports
U.S. semiconductor startup Groq has spoken to investors about raising between $300 million and $500 million at a $6 billion post-investment valuation, The Information reported on Wednesday, citing people with knowledge of the matter. The company is seeking the cash to fulfill a recently inked deal with Saudi Arabia, the report said. In February, Groq secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced artificial intelligence chips to the country. Groq has told investors that the contracts in Saudi Arabia will help the company bring in about $500 million in revenue this year, the report added. Groq did not immediately respond to a Reuters request for comment. In August last year, Groq raised $640 million in a Series D funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners, among others, which brought its valuation to $2.8 billion. The Silicon Valley firm is known for producing AI inference chips that optimize speed and execute commands of pre-trained models. (Reporting by Rishabh Jaiswal in Bengaluru; Editing by Shailesh Kuber)
Reuters
7 days ago
- Business
- Reuters
AI chip startup Groq discusses $6 billion valuation, The Information reports
July 9 (Reuters) - U.S. semiconductor startup Groq has spoken to investors about raising between $300 million and $500 million at a $6 billion post-investment valuation, The Information reported on Wednesday, citing people with knowledge of the matter. The company is seeking the cash to fulfill a recently inked deal with Saudi Arabia, the report said. In February, Groq secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced artificial intelligence chips to the country. Groq has told investors that the contracts in Saudi Arabia will help the company bring in about $500 million in revenue this year, the report added. Groq did not immediately respond to a Reuters request for comment. In August last year, Groq raised $640 million in a Series D funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners, among others, which brought its valuation to $2.8 billion. The Silicon Valley firm is known for producing AI inference chips that optimize speed and execute commands of pre-trained models.
CNA
7 days ago
- Business
- CNA
AI chip startup Groq discusses $6 billion valuation, The Information reports
U.S. semiconductor startup Groq has spoken to investors about raising between $300 million and $500 million at a $6 billion post-investment valuation, The Information reported on Wednesday, citing people with knowledge of the matter. The company is seeking the cash to fulfill a recently inked deal with Saudi Arabia, the report said. In February, Groq secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced artificial intelligence chips to the country. Groq has told investors that the contracts in Saudi Arabia will help the company bring in about $500 million in revenue this year, the report added. Groq did not immediately respond to a Reuters request for comment. In August last year, Groq raised $640 million in a Series D funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners, among others, which brought its valuation to $2.8 billion.
Yahoo
7 days ago
- Business
- Yahoo
AI chip startup Groq discusses $6 billion valuation, The Information reports
(Reuters) -U.S. semiconductor startup Groq has spoken to investors about raising between $300 million and $500 million at a $6 billion post-investment valuation, The Information reported on Wednesday, citing people with knowledge of the matter. The company is seeking the cash to fulfill a recently inked deal with Saudi Arabia, the report said. In February, Groq secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced artificial intelligence chips to the country. Groq has told investors that the contracts in Saudi Arabia will help the company bring in about $500 million in revenue this year, the report added. Groq did not immediately respond to a Reuters request for comment. In August last year, Groq raised $640 million in a Series D funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners, among others, which brought its valuation to $2.8 billion. The Silicon Valley firm is known for producing AI inference chips that optimize speed and execute commands of pre-trained models.
Yahoo
03-03-2025
- Business
- Yahoo
AI Startup Anthropic Valued at $61.5B After Latest Funding Round
Anthropic said Monday it raised $3.5 billion in its latest funding round, giving the Amazon- and Google-backed AI startup a $61.5 billion post-money valuation. Lightspeed Venture Partners led the funding round, Anthropic said, and other investors included Cisco Investments, Salesforce Ventures, and Fidelity Management & Research Company. Anthropic said with this latest investment, it "will advance its development of next-generation AI systems, expand its compute capacity, deepen its research in mechanistic interpretability and alignment, and accelerate its international expansion." The news comes a week after Anthropic announced Claude 3.7 Sonnet, its "most intelligent model to date and the first hybrid reasoning model on the market," and Claude Code, "a command line tool for agentic coding." Anthropic says the products "mark an important step towards AI systems that can truly augment human capabilities." Read the original article on Investopedia
