June 23, 2026
Groq Raises $650M Amidst Nvidia's Not-Acqui-Hire Deal
AI chipmaker Groq has confirmed a massive $650 million funding round, a strategic move following Nvidia's $20 billion not-acqui-hire deal. This funding will bolster Groq's neocloud business and support its hiring of new executives, positioning the company as a formidable player in the AI hardware space. The investment highlights the intense competition and high stakes in the AI chip market, with Groq aiming to capitalize on its independence and technological advancements.
New Funding Rounds
Industry Moves
WhatsApp has appointed Kunal Shah, founder of India's CRED, as its new chief, following a $900 million investment by Meta in the startup. This leadership change is part of Meta's strategic push to strengthen its presence in the fintech sector and leverage Shah's expertise in digital payments.
Policy & Regulation
Anthropic's ongoing feud with the US government could lead to an AI export ban, as the company has been vocal about the risks of advanced AI. This situation underscores the growing tension between AI companies and regulatory bodies over the control and dissemination of AI technologies.