AI startup Groq is reportedly raising $650 million in funding for a new entity

: AI chip manufacturer Groq Inc., after reaching a $20 billion licensing agreement with Nvidia (NVDA.O), is raising up to $650 million from existing investors to establish a new company. The new entity, tentatively called "Groq2," is said to transition away from chip manufacturing to focus on building "AI neoclouds" services. (Axios)