Groq Inc. Secures $20 Billion Deal with Nvidia, Plans New AI Cloud Venture

AI chip manufacturer Groq Inc. has entered into a $20 billion licensing agreement with Nvidia. According to ChainCatcher, Groq is now seeking to raise up to $650 million from existing investors to establish a new company named 'Groq2.' This new venture will pivot away from chip manufacturing to focus on developing 'AI neoclouds' services.