NVIDIA's challenger Groq is close to completing a new round of financing, with an estimated valuation doubling to $6 billion.

According to the Zhixun Finance APP, informed sources revealed that the AI chip startup Groq is in talks for a new round of financing of $600 million, with an estimated valuation close to $6 billion. However, the deal has not been finalized yet, and terms are still subject to possible adjustments. In August 2024, Groq raised $640 million at a valuation of $2.8 billion; if this financing round is successful, its valuation will double in about a year. The company has previously raised a total of approximately $1 billion in funding.