Groq was originally looking to raise $300 million at a slightly lower valuation. Groq, an artificial intelligence chipmaking startup, has secured more than $600 million in a recent funding round, the company announced Monday.
Industry
Walmart Reports 4.8% Revenue Growth, Driven by Rising Consumer Spending
Walmart's Q2 revenue hit $169.34 billion, exceeding expectations, with a 4.8% increase from last year and a 9.8% rise in adjusted earnings per share.
Huawei Prepares AI Chip to Rival Nvidia in China, Possibly Generating $2 Billion in Orders
Huawei is set to launch its Ascend 910C AI chip, designed to rival Nvidia’s restricted H100, with initial orders expected to top $2 billion.
Markets Await Inflation Data to Guide Federal Reserve's Rate Cut Decision
As markets await crucial inflation data this week, investors hope it will allow the Federal Reserve to implement its anticipated interest rate cut next month amid recent market stability.
Yum Brands Misses Revenue Target as Pizza Hut, KFC See Lower Sales
Yum Brands fell short of revenue expectations in the second quarter as Pizza Hut and KFC struggled with declining same-store sales, while Taco Bell saw a 5% increase.
Latest News
The ruling could force Google to allow users to choose which search engine to use. A federal judge on Monday ruled that Alphabet's Google broke antitrust laws and held an illegal monopoly in the United States in a landmark ruling against the tech giant.
The move came after Musk slammed California's SAFETY Act last month. X, the social media company formerly known as Twitter and owned by Elon Musk, is now preparing to shut its San Francisco office and move to Texas, according to an internal email sent to employees on Monday.
To ensure business success, knowing how to create an effective elevator pitch is key. Here's a quick guide.
Tesla's lawyers said a recent vote makes it clear that shareholders believe Elon Musk is entitled to the 11-figure compensation.
The oil giant's announcement will mark the first time Chevron will be headquartered outside of California since its founding 100 years ago.
The implant could give a paralyzed patient the ability to control digital devices by thinking. Neuralink, a microchip company owned by Elon Musk, has successfully implanted a brain chip into a second trial patient just months after its first attempt.
Coca-Cola expects some or all of the $6 billion in back taxes to be refunded if it wins an appeal on the court's decision.
The shareholders also noted that CrowdStrike's share price fell more than 30% in the days following the global tech outage.
The majority of the layoffs will be completed by the end of 2024, Intel said. Chip maker Intel on Thursday announced it plans to lay off more than 15,000 workers after it lost more than $1 billion in revenue in the second quarter.
