Nvidia AI chip challenger Groq said to be nearing new fundraising at $6B valuation 

Groq, an AI chip startup, is reportedly in negotiations to raise $600 million in new funding at a valuation of nearly $6 billion. The company, which is seen as a challenger to Nvidia's dominance in the AI chip market, is looking to secure this latest round of financing, according to sources familiar with the matter. The potential deal, which is not yet finalized and could see changes in the terms, would significantly increase Groq's valuation and provide the company with additional resources to further develop and market its AI chip technology. The startup's efforts are aimed at challenging Nvidia's position as a leading provider of AI hardware solutions for various industries, including data centers, autonomous vehicles, and edge computing. The news highlights the growing competition and investment interest in the AI chip market, as companies seek to offer alternatives and innovations in this rapidly evolving technological landscape.