# Groq secures $350 million as it expands Nvidia-based cloud capacity

_Monday, August 17, 2026 at 12:15 PM EDT · AI, Capital · Latest · Tier 2 — Notable_

![Groq secures $350 million as it expands Nvidia-based cloud capacity — Primary](https://techcrunch.com/wp-content/uploads/2025/10/GettyImages-529313685.jpg?resize=1200,1200)

Groq raised $350 million in financing led by Disruptive, with planned Nvidia participation, as it shifts from selling its own AI chips to operating a cloud built on Nvidia systems. The funding values the company at $3.5 billion, down from its $6.9 billion valuation last September. Groq says it runs 13 data centers and plans to expand capacity from 54 megawatts to more than 200 megawatts in 2027.

## Sources

- [TechCrunch](https://techcrunch.com/2026/08/17/groq-raises-350m-to-fuel-its-pivot-from-ai-chips-to-neocloud/)

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Retrieved: 2026-08-17T20:26:49.933Z
Publisher: Tech & Business (techandbusiness.org)