Nvidia (NVDA)-backed Groq reportedly seeks an $8 billion valuation, 2.5 times August's, and faults debt-heavy rivals

Nvidia-backed AI cloud company Groq is reportedly seeking a Series B funding round at an $8 billion valuation, which is roughly 2.5 times its August value. Executive Chairman Alex Davis has contacted investors with projections of eightfold revenue growth next year while criticizing debt-heavy neocloud rivals. Groq shifted its business model toward running Nvidia systems in data centers after Nvidia hired several of its former staff. Open article →