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Groq Raises $350 Million To Expand Its AI Cloud Business

by News Editor

August 18, 2026

Groq has raised $350 million as the AI infrastructure startup continues shifting from developing its own chips toward a neocloud model built around Nvidia hardware.

The round was led by investment firm Disruptive, with Nvidia also planning to participate. The deal values Groq at $3.5 billion, down from the $6.9 billion valuation it reached in September 2025.

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The change follows a major shift in the company’s strategy. In late 2025, Nvidia hired Groq founder and CEO Jonathan Ross and other senior employees as part of a $20 billion licensing deal. Groq says the new valuation reflects its business after that deal rather than a traditional down round.

From AI Chips to Cloud Infrastructure

Groq originally developed its own language processing units, or LPUs, for AI inference, the computing needed to run AI models in real time.

After losing much of its senior team, the company shifted toward cloud and data center services using Nvidia systems. In June, Groq raised another $650 million to support the transition.

Today, Groq operates 13 data centers across North America, Europe, the Middle East and Asia-Pacific, serving more than 6 million developers, enterprises and AI companies. It plans to increase capacity from 54 megawatts to more than 200 megawatts in 2027.

The latest funding will help Groq provide customers with access to larger Nvidia computing clusters for AI training and inference.

Can Neoclouds Become Profitable?

Groq is betting on rising demand for AI inference as businesses expand their use of AI. Yet the neocloud model faces questions over whether companies can generate sufficient returns from the huge cost of building and operating AI infrastructure.

CoreWeave has reported strong revenue growth and secured major contracts with Meta and Anthropic, but investors remain concerned about its capital spending, debt and the rapid depreciation of AI hardware.

Groq does not publicly disclose its financial results. Its new strategy also places it within Nvidia’s broader AI infrastructure ecosystem, alongside neocloud providers such as CoreWeave, Lambda and Nebius.

The Future Forbes Realty Global Properties

One In Three Cypriots Open To Using Digital Euro

by News Editor

August 19, 2026

Around one in three Cypriots say they would use the digital euro in their daily lives, despite limited awareness of the new form of money, according to the first islandwide survey published by the Central Bank of Cyprus.

With the first issuance currently expected in 2029, the findings suggest that public education will be crucial, particularly among people who rely more heavily on cash or have less experience with digital tools.

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Awareness Remains Low

Some 61% of respondents say they have no knowledge of the digital euro, while just 1% consider themselves fully informed.

Awareness is higher among people under 65, those with tertiary education and employed respondents. Among those who have heard of the digital euro, awareness is also more common among men, higher-income and more highly educated people, as well as urban residents.

Social media is the leading source of information, cited by 49% of respondents, followed by television at 30%.

35% Would Use The Digital Euro

Despite the knowledge gap, 35% say they are willing to use the digital euro in their daily lives. This is particularly true among people under 45, employed respondents and those with higher education and incomes.

Among potential users, 41% would use it for purchases in physical shops, 40% for online shopping and 33% for person-to-person payments.

By comparison, 28% say they are somewhat or very unlikely to use the digital euro.

Privacy And Cash Are Main Concerns

The biggest concerns are the possibility of transactions being tracked and fears that cash could eventually be abolished, cited by 53% of respondents.

Another 38% are concerned about security, while 25% worry about managing their spending. Some 30% have significant concerns about the ease of using the digital euro.

For businesses, 9% say their willingness to accept digital euro payments would depend on factors such as cost, ease of implementation and demand, while 27% say they would not accept such payments.