AI chip startup Groq has raised $640 million in Series D funding, boosting its valuation to $2.8 billion, more than double its previous valuation of $1.1 billion in 2021. Led by BlackRock and supported by investors like Cisco and Samsung, this funding will help Groq enhance its language processing unit (LPU) technology, which is designed to run generative AI models faster and more efficiently than traditional processors. Groq aims to challenge the dominance of Nvidia in the AI chip market, particularly in AI inference applications. With over 356,000 developers on its GroqCloud platform, Groq plans to expand its capabilities and offerings significantly. Notable appointments include Yann LeCun, Meta's chief AI scientist, as a technical advisor, signaling Groq's ambitions in the competitive AI landscape. The rising demand for AI capabilities underlines the importance of Groq's innovations in semiconductor technology, positioning it as a key player in the evolving AI sector.