On Wednesday, Nvidia Corporation (NASDAQ:NVDA) briefly hit $4 trillion market cap. Meanwhile, its rival Silicon Valley startup Groq is reportedly aiming to raise fresh capital at a $6 billion valuation to fulfill a major Saudi contract.
What Happened: Groq has spoken to investors about raising between $300 million and $500 million to support its expansion efforts, particularly tied to a $1.5 billion agreement with Saudi Arabia to deliver advanced AI inference chips, reported Reuters (via The Information).
