AI chip startup Groq is in talks to raise a fresh $600 million at a near $6 billion valuation, according to sources familiar with the matter. The deal is not yet final, and terms could change.
This potential funding round marks a significant jump in valuation for Groq. In August 2024, the company raised $640 million at a $2.8 billion valuation, meaning its valuation could double in just about a year. Prior to that, Groq had raised approximately $1 billion in total.
The new round is reportedly led by Austin-based firm Disruptive. The previous funding round in November was led by BlackRock, with participation from Neuberger Berman, Type One Ventures, Cisco, KDDI, and Samsung Catalyst Fund.
Groq was founded by Jonathan Ross, a former Google engineer who worked on the development of the Tensor Processing Unit chip. The startup came out of stealth mode in 2016.
This latest fundraising effort follows recent high-profile partnerships. In May, Groq announced an exclusive deal with Bell Canada to support the telecom company’s large-scale AI infrastructure project. Earlier, in April, Groq partnered with Meta to enhance AI infrastructure and accelerate Llama 4 inference.
Neither Disruptive nor Groq provided immediate comment on the latest funding talks.
A correction was made to this story to fix an earlier error regarding the date of the company’s last funding round.