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GROQ RAISES $640M TO MEET SOARING DEMAND FOR FAST AI INFERENCE

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Groq to Scale Capacity, Add Exceptional Talent, and Accelerate the Next Gen LPU™

MOUNTAIN VIEW, Calif., Aug. 5, 2024 /PRNewswire/ — Groq, a leader in fast AI inference, has secured a $640M Series D round at a valuation of $2.8B. The round was led by funds and accounts managed by BlackRock Private Equity Partners with participation from both existing and new investors including Neuberger Berman, Type One Ventures, and strategic investors including Cisco Investments, Global Brain’s KDDI Open Innovation Fund III, and Samsung Catalyst Fund. The unique, vertically integrated Groq AI inference platform has generated skyrocketing demand from developers seeking exceptional speed.

Groq, a leader in fast AI inference, has secured a $640M Series D round at a valuation of $2.8B.

“The market for AI compute is meaningful and Groq’s vertically integrated solution is well positioned to meet this opportunity. We look forward to supporting Groq as they scale to meet demand and accelerate their innovation further,” said Samir Menon, Managing Director, BlackRock Private Equity Partners.

“Samsung Catalyst Fund is excited to support Groq,” said Marco Chisari, Head of Samsung Semiconductor Innovation Center and EVP of Samsung Electronics. “We are highly impressed by Groq’s disruptive compute architecture and their software-first approach. Groq’s record-breaking speed and near-instant Generative AI inference performance leads the market.”

“You can’t power AI without inference compute,” said Jonathan Ross, CEO and Founder of Groq. “We intend to make the resources available so that anyone can create cutting-edge AI products, not just the largest tech companies. This funding will enable us to deploy more than 100,000 additional LPUs into GroqCloud. Training AI models is solved, now it’s time to deploy these models so the world can use them. Having secured twice the funding sought, we now plan to significantly expand our talent density. We’re the team enabling hundreds of thousands of developers to build on open models and – we’re hiring.”

Today, Groq also announced that Stuart Pann, formerly a senior executive from HP and Intel, joined its leadership team as Chief Operating Officer.

“I am delighted to be at Groq at this pivotal moment. We have the technology, the talent, and the market position to rapidly scale our capacity and deliver inference deployment economics for developers as well as for Groq,” said Stuart Pann, Chief Operating Officer at Groq.

Groq also gains the world-class expertise of its newest technical advisor, Yann LeCun, VP & Chief AI Scientist at Meta.

Developers Flock to Groq
Groq has quickly grown to over 360,000 developers building on GroqCloud™, creating AI applications on openly-available models such as Llama 3.1 from Meta, Whisper Large V3 from OpenAI, Gemma from Google, and Mixtral from Mistral. Groq will use the funding to scale the capacity of its tokens-as-a-service (TaaS) offering and add new models and features to GroqCloud.

Mark Zuckerberg, CEO and Founder of Meta recently shared in his letter entitled, Open Source AI Is the Path Forward,”Innovators like Groq have built low-latency, low-cost inference serving for all the new models.”

Scaling Capacity
As Gen AI applications move from training to deployment, developers and enterprises require an inference strategy that meets the user and market need for speed. The tsunami of developers flocking to Groq are creating a wide range of new and creative AI applications and models, fueled by Groq instant speed.

To meet its developer and enterprise demand, Groq will deploy over 108,000 LPUs manufactured by GlobalFoundries by the end of Q1 2025, the largest AI inference compute deployment of any non-hyperscaler.

Mohsen Moazami, President of International at Groq, former leader of Emerging Markets at Cisco, is leading commercial efforts with enterprises and partners including Aramco Digital and Earth Wind & Power to build out AI compute centers globally. This will ensure developers have access to Groq technology regardless of their location. 

“Aramco Digital is partnering with Groq to build one of the largest AI Inference-as-a-Service compute infrastructure in the MENA region,” said Tareq Amin, Chief Executive Officer, Aramco Digital. “Our close collaboration with Groq is transformational for both domestic and global AI demand.”

Accelerating Innovation
Groq LPU™ AI inference technology is architected from the ground up with a software-first design to meet the unique characteristics and needs of AI. This approach has given Groq an advantage to bring new models to developers quickly, at instant speed. The investment will enable Groq to accelerate the next two generations of LPU.

Morgan Stanley & Co. LLC served as exclusive Placement Agent to Groq on the transaction.

About Groq
Groq builds fast AI inference technology. Groq® LPU™ AI inference technology is a hardware and software platform that delivers exceptional AI compute speed, quality, and energy efficiency. Groq, headquartered in Silicon Valley, provides cloud and on-prem solutions at scale for AI applications. The LPU and related systems are designed and manufactured in North America.

Future Groqsters can find open roles here. Try Groq instant speed at www.groq.com.

Media Contact
Megan Hartwick
pr-media@groq.com

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SOURCE Groq

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RainFocus Marks Continued Excellence in 2024 With Industry Leadership and Innovation Recognized by Multiple Prestigious Awards

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December 26, 2024

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New accolades build on the company’s momentum as a leading event technology provider

LEHI, Utah, Dec. 26, 2024 /PRNewswire/ — RainFocus™, provider of the next-generation event marketing platform, has continued its streak of industry recognition, earning several notable awards in 2024. Recognition was given by esteemed organizations such as Inc., Adobe, Event Technology Awards, and more, as well as from the top research and advisory firms. These accolades underscore RainFocus’ innovative contributions to the event marketing industry and the company’s commitment to excellence in technology and customer success.

“These achievements reflect the hard work and dedication of the entire RainFocus team,” said JR Sherman, CEO of RainFocus. “We strive to help our clients create meaningful relationships and grow their businesses by orchestrating impactful content within memorable experiences. Whether it’s through innovative customer data strategies, sustainable practices, or seamless execution, we’re passionate about delivering more than just results. I’m proud of our success and recognition for these efforts, and I am looking forward to what we’ll accomplish with our partners and clients in 2025.”

RainFocus’ achievements in 2024 included recognition across a diverse range of awards:

Named a Leader in The Forrester Wave™: All-In-One Event Management Platforms, Q4 2024 reportAppeared for the fourth time on the Inc. 5000 List of fastest-growing private companies in AmericaRecognized at Adobe Summit for Technology Innovation as the 2024 Adobe Digital Experience ISV Partner of the YearWon Best Conference Technology at the Event Technology Awards, which celebrates remarkable advancements and innovations in the industryNamed a Leader in the 2024 Gartner® Magic Quadrant™ for Event Technology PlatformsWon the 2024 Sammy Awards Product of the Year for Experiential/Event Marketing, highlighting dedication to creating unforgettable experiences and pushing boundariesRecognized with several Eventex Awards, including the Eventex People’s Choice Awards recognizing CEO JR Sherman as one of The Most Influential People in the Events IndustryNamed a Bronze Winner by The Stevie® Awards in the annual American Business Awards® for Most Innovative Tech Company of the Year – Up to 2,500 Employees

RainFocus’ platform powered a record number of events in 2024, supporting enterprise clients across technology, associations, retail, and other industries. From virtual and hybrid conferences to large-scale in-person gatherings, the platform delivered unified data insights, seamless integrations, and personalized experiences that drove measurable business outcomes.

With RainFocus INSIGHT, the company’s annual flagship event, on the horizon, the company plans to unveil new platform enhancements that further empower event marketers to harness data for deeper audience engagement. RainFocus remains dedicated to redefining the future of event management through technology, innovation, and partnership.

About RainFocus
RainFocus is the next-generation event marketing platform built to capture and analyze unprecedented amounts of first-party data for exceptional events and optimized engagement throughout the customer journey. RainFocus powers flawless experiences with secure, scalable solutions to support the entire event lifecycle. The platform integrates with sales and marketing technologies, simplifying event registration, content management, and exhibitor activation across in-person, virtual, and hybrid experiences, all from a single dashboard. Leveraging real-time data, RainFocus provides actionable insights to drive personalization, accelerate qualification and lead conversion, and close deals. For more information, visit www.rainfocus.com.

Additional Resources

Join the conversation with RainFocus on Facebook, LinkedIn, and Instagram.Visit RainFocus.com to learn more about our event marketing and management platform. If you’re ready to get started, request a demo.Discover RainFocus On Demand, the go-to learning destination for event industry leaders to discover the latest trends, thought leadership, and best practices, delivered on demand – any time, anywhere. Learn more.Are you interested in joining the RainFocus Partner Program? Apply today.Grow your career and help reshape the events industry at RainFocus. Apply here.

Media Contact:
Sheena Lakhani
sheena.lakhani@rainfocus.com

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HSG Laser Opens New Manufacturing Facility in Jinan, China and Unveils 120kW Laser Cutter

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December 26, 2024

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CHICAGO, Dec. 26, 2024 /PRNewswire/ — HSG Laser, a global leader in metal shaping equipment and solutions, proudly announces the grand opening of its newest manufacturing facility in Jinan, China—a key milestone in its global manufacturing and supply strategy. This state-of-the-art facility bolsters HSG Laser’s expansive production network, complementing existing bases in Foshan, Suzhou, Bangkok, and other strategic locations worldwide.

With an investment of USD 68.3 million, the Jinan facility was fully self-funded, highlighting HSG Laser’s financial resilience and dedication to its customers. Positioned as one of 2024’s largest laser cutting equipment production projects, it plays a critical role in achieving the company’s ambitious goal of surpassing 10,000 units in annual global production capacity. Beyond meeting the growing global demand for advanced laser cutting solutions, the Jinan base contributes significantly to local employment and economic growth.

Adding to the excitement, the grand opening ceremony featured the debut of HSG Laser’s groundbreaking 120kW ultra-high-power laser cutting machine. This revolutionary innovation sets a new industry benchmark with its exceptional performance and cutting-edge features. Designed with a specialized high-power machine bed, it minimizes deformation during high-power cutting, ensuring ultra-high brightness, outstanding efficiency, and remarkable stability. Delivering twice the brightness of 100kW models and a transmission distance of up to 40 meters, the 120kW laser is equipped with fourth-generation Yb-doped fiber technology and third-generation ultra-high-power transmission systems, guaranteeing stable energy output and superior beam quality.

The machine achieves unparalleled cutting speed, improving performance for thick metal sheets by 50% to 200%. Additionally, its advanced residual material system enhances production capacity by 200% and material utilization by 175%, significantly reducing costs and waste while promoting sustainable manufacturing practices.

HSG Laser’s unwavering commitment to research and development continues to solidify its leadership in the metal shaping industry. By May 2024, the company had deployed over 25,000 units worldwide, earning the trust of customers across the globe. This success is built on internationally recognized R&D expertise, enabling the delivery of innovative, high-quality solutions. Backed by research partnerships in Japan, strong recognition in Europe and the Americas, and a growing global manufacturing network, HSG Laser remains dedicated to driving industrial innovation. The company looks forward to collaborating with global partners to redefine industry standards and shape the future of laser cutting technology.

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Driving Cloud Innovation: Hyperlink InfoSystem Becomes an AWS Partner

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December 26, 2024

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NEW YORK and LOS ANGELES, Dec. 26, 2024 /PRNewswire/ — Users from virtually every industry, including the largest enterprises, startups, and government agencies, use AWS to reduce costs, improve agility, and accelerate innovation, resulting in a global boom in demand for cloud-based solutions. Amazon Web Services (AWS) is a globally revered and adopted cloud platform, providing a broad spectrum of global computing, networking, analytics, storage, database, mobile, security, Internet of Things (IoT), machine learning and artificial intelligence (AI), and application services. Organizations are rapidly switching to AWS to enhance their operational scalability, security, and efficiency. Acknowledging the urgency to satisfy this demand, Hyperlink InfoSystem has incorporated AWS into its diverse lineup of offerings, allowing it to deliver full, customized cloud services to its worldwide clientele.

Being a globally recognized leader in IT services and digital transformation, Hyperlink InfoSystem officially decided to join the cloud bandwagon and announce its pristine status as an official AWS Partner. This collaboration signifies a vital milestone in Hyperlink InfoSystem’s journey to supplying premier cloud solutions and accentuates its dedication to empowering businesses with best-in-class technology. Being an official AWS Partner, Hyperlink InfoSystem will potentially utilize its comprehensive experience and pre-existing in-depth knowledge of AWS in assisting businesses of all sizes to migrate to the cloud. Enabling this will also empower organizations to unleash the true power of cloud computing and modernize their applications.

With an exceptional 98% client retention rate, Hyperlink InfoSystem already persists in setting the benchmark in the cloud computing market. Adding to this, the official status as an AWS partner, the company will utilize the complete power of the AWS ecosystem to provide immaculate services in AI/ML integration, IoT solutions, DevOps support, cloud migration, application development, and data analytics. Hyperlink InfoSystem envisions capitalizing on its technological acumen and unique approach to help organizations embark on cloud transformation journeys. Their proven track record in deploying over 4,800 apps and collaborating with over 2700 global clients cements their position as a reliable partner for businesses looking to realize the true potential of AWS technologies.

Commenting on this remarkable new status, Harnil Oza, CEO & Founder of Hyperlink InfoSystem, commented, “Our company has been a proud investor in all kinds of emerging technologies, and our new status as official AWS partners is only adding more feathers to our cap. With this partnership, we intend to deliver robust, scalable, and secure cloud solutions for different industries such as finance, healthcare, e-commerce, and logistics. Currently, AWS holds the top position as the ultimate partner for cloud innovation, and this partnership will bring us a step closer to delivering seamless digital transformation journeys to our clients while reinstating reliance.”

Hyperlink InfoSystem caters to organizations of all sizes and offers services in IoT, AR/VR, AI, and data analytics, expanding the adaptability of modern solutions for numerous sectors. With a growing consumer appetite for cloud-based solutions, the firm continues to serve clients throughout the United States, Europe, the Middle East, and Asia. Considering its newly established status as an AWS Partner, Hyperlink InfoSystem looks forward to conducting training and certifications and investing in research to ensure staying at the forefront of cloud technology. Whether it’s cloud migration, cloud-native application development, or infrastructure enhancement, Hyperlink InfoSystem strives to ensure success at every stage. To inquire more about their transformative AWS services, contact their team at +1(309) 791-4105 or email info@hyperlinkinfosystem.com.

About Hyperlink InfoSystem

Hyperlink InfoSystem is a prominent international enterprise excelling in IT solutions in many domains. Since its humble beginnings in 2011, its specialization in technologies has expanded across web development, mobile app development, enterprise software solutions, and now Artificial Intelligence (AI). With over 1200+ employees and a global presence in the USA, UK, UAE, France, India, and Canada, Hyperlink InfoSystem is dedicated to assisting corporations to leverage the complete power of technology to accomplish their goals.

Contact Details:
Hyperlink InfoSystem
Harnil Oza
+1-309-791-4105
info@hyperlinkinfosystem.com

New York Address:
One World Trade Center
285 Fulton Street suite 8500,
New York, NY 10007,
United States

Ahmedabad Address:
C-308, Ganesh Meridian,
Opp Kargil Petrol Pump, S.G. Highway,
Sola, Ahmedabad, 380061
India

London Address:
Level 30, The Leadenhall Building,
122 Leadenhall Street,
London EC3V 4AB

Canada Address:
151 Yonge Street, 11th Floor,
Toronto, Ontario, M5C 2W7,
Canada

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