(Reuters) – Semiconductor startup Groq stated on Monday it has secured a $1.5 billion dedication from Saudi Arabia to broaden the supply of its superior AI chips to the nation.
Groq, based by a former Alphabet engineer, is thought for producing AI inference chips that optimize pace and execute instructions of pre-trained fashions.
The startup has an current settlement with Aramco Digital, the expertise subsidiary of oil main Aramco, by means of which the businesses constructed a vital AI hub within the area in December.
The dedication, which lacked particular particulars on the timeline or location of the funding, was introduced at Saudi’s world expertise occasion, LEAP 2025. At this occasion, the nation secured $14.9 billion in recent AI investments.
In August, Groq clinched a valuation of $2.8 billion after elevating $640 million in a funding spherical led by Cisco Investments, Samsung Catalyst Fund and BlackRock Non-public Fairness Companions.
(Reporting by Deborah Sophia in Bengaluru; Enhancing by Mohammed Safi Shamsi)
