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Neocloud Groq Aims to Double Value to $8 Billion Amid AI Selloff

Bloomberg Technology Friday 06 November 2026, 23:13 UTC By Sridhar Natarajan and Natasha Mascarenhas 1 min read
Key Points

EXCLUSIVE AI Neocloud Groq Aims to Double Value to $8 Billion Amid AI Selloff A top executive at data center operator Groq has kicked off an audacious bid to double its valuation in about three months while slamming rivals in the space for being too reliant on debt markets. Alex Davis, executive chairman at the Nvidia Corp.-backed company, has reached out to his investors for a new Series B round at an $8 billion valuation, not including the money raised, according to documents seen by...

EXCLUSIVE AI Neocloud Groq Aims to Double Value to $8 Billion Amid AI Selloff A top executive at data center operator Groq has kicked off an audacious bid to double its valuation in about three months while slamming rivals in the space for being too reliant on debt markets. Alex Davis, executive chairman at the Nvidia Corp.-backed company, has reached out to his investors for a new Series B round at an $8 billion valuation, not including the money raised, according to documents seen by Bloomberg News. Groq, formerly a chipmaker, was most recently valued at $3.15 billion in August, not including the $350 million raised in a round.
Neocloud Groq Aims (ORG) Groq (ORG) Alex Davis (PERSON) Nvidia (ORG) Series (EVENT) Bloomberg News (ORG)
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