AI startup Groq is raising $650 million for a new entity

Odaily reported that AI chip manufacturer Groq Inc. is raising up to $650 million from existing investors to establish a new company after reaching a $20 billion licensing agreement with NVIDIA (NVDA.O). The new company, referred to as "Groq2," is said to be shifting away from chip manufacturing and focusing on building “AI neoclouds” services. (Axios)