AI chip startup Groq secures $1.5 billion commitment from Saudi Arabia
Feb 10 (Reuters) - Semiconductor startup Groq said on Monday it has secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced AI chips to the country.
Groq, founded by a former Alphabet engineer, is known for producing AI inference chips that optimize speed and execute commands of pre-trained models.
The startup has an existing agreement with Aramco Digital, the technology subsidiary of oil major Aramco, through which the companies built a critical AI hub in the region in December.
The commitment, which lacked specific details on the timeline or location of the investment, was announced at Saudi's global technology event, LEAP 2025. At this event, the country secured $14.9 billion in fresh AI investments.
In August, Groq clinched a valuation of $2.8 billion after raising $640 million in a funding round led by Cisco Investments, Samsung Catalyst Fund and BlackRock Private Equity Partners.
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