Nvidia-backed Groq to Raise Series B at $8 Billion Valuation

Odaily: Nvidia-backed AI data center operator Groq has sent out invitations for a Series B funding round, seeking to raise capital at a pre-money valuation of $8 billion. The financing implies Groq plans to more than double its valuation in about three months. As the AI infrastructure industry comes under pressure, shares of data center operators such as CoreWeave and Nebius have recently been sold off, with the market concerned about the sustainability of the industry's large-scale debt-financed buildout of AI infrastructure.

Late last year, Nvidia brought in Groq founder and CEO Jonathan Ross and other core employees through a technology licensing deal worth $20 billion. (Bloomberg)