Groq raised $650 million in June 2026 to scale its AI inference cloud globally. The company lost its founder and CEO Jonathan Ross along with president Sunny Madra, both hired by Nvidia in December 2025 following a non-exclusive licensing deal worth approximately $20 billion. Groq has since rebuilt its leadership team with new executives from xAI and Meta. The company currently operates 13 data centers worldwide and serves more than five million developers. The funding will be used to reach 200 megawatts of power capacity by the end of 2027.
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