The race to better compete with AI chip darling Nvidia (NVDA) is well underway. Enter Groq (GROQ.PVT). The company makes what it calls language processing units (LPUs). These LPUs are designed to make large language models run faster and more efficiently, unlike Nvidia GPUs that target training models. Groq’s last capital raise was in August 2024, when it raised $640 million from the likes of BlackRock (BLK) and Cisco (CSCO). The company’s valuation at the time stood at $2.8 billion, a fraction of Nvidia’s more than $3 trillion market cap. It currently clocks in at $3.5 billion, according to Yahoo Finance private markets data. At the helm of Groq is founder and CEO Jonathan Ross. While at Google (GOOG), Ross designed the custom chips that the tech giant would go on to train its AI models on. Yahoo Finance Executive Editor Brian Sozzi sits down on the Opening Bid podcast with Ross to discuss his future plans for Groq. Ross is fresh off a trip with other key tech executives to Saudi Arabia, joining President Donald Trump in forging a deeper tech relationship with the country. Ross begins by sharing with Sozzi the conversations he had on the ground in Saudi Arabia.
Yahoo Finance's Opening Bid, brings you a high-octane take on the freshest analyst calls, wildest stock moves and shrewdest commentary in the business world. Executive Editor Brian Sozzi puts Wall Street's finest through their paces in this essential conversation for every investor - before the stock market opens.
Find this episode's transcripts and more episodes of Opening Bid at http://finance.yahoo.com/videos/series/opening-bid/.
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Yahoo Finance's Opening Bid is hosted by Brian Sozzi, and produced by Langston Sessoms
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