AI chip startup Groq raises $350M after becoming an Nvidia customer

Groq, a startup that built its own AI chips, raised $350M at a $3.5B valuation — half of last September's $6.9B. After a December deal sent Groq's founder, CEO, and chip engineers to Nvidia, Groq stopped making its own chips and became an Nvidia partner on August 12. Nvidia now plans to invest in Groq's cloud business, which buys Nvidia's chips.