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US semiconductor startup Groq has spoken to investors about raising between $300 million and $500 million at a $6 billion post-investment valuation, The Information reported on Wednesday, citing people with knowledge of the matter.
The company is seeking the cash to fulfill a recently inked deal with Saudi Arabia, the report said.
In February, Groq secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced artificial intelligence chips to the country.
Groq has told investors that the contracts in Saudi Arabia will help…
