Groq announced on Wednesday that it raised $750 million in its latest round of funding that values the producer of artificial intelligence (AI) inference semiconductors at $6.9 billion.
The company said it will use the money to expand its data-center capacity, including new locations this year and next.
The company has expanded its capacity by more than 10% in the last month and all of that is already in use, according to Groq CEO Jonathan Ross, as reported by Bloomberg.
Its latest funding round was led by investment firm Disruptive, which has invested nearly $350 million in Groq and has previously helped fund Palantir and Spotify.
Groq’s previous funding round was in August 2024, when it raised $640 million.
The company was founded by a former Alphabet engineer.