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Groq seeks more capital and continues to establish itself as a key AI player
Weekly Edition & Stock Spotlight
June 3, 2024
ApeVue50 Index & Sectors YTD Performance
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Most Active Names Performance
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* Price (USD) estimated based on secondary market activity observed by ApeVue. Valuation is estimated based on said price and share count from state filings and/or news in the public domain. Note that share count in calculations may change as new filing documents are obtained.
ApeVue50 Privates versus Public Benchmarks/ETFs
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Public v. Private (12mo)
The ApeVue50 tracks the performance of the 50 most active private names observed in the secondary market. It is an equal-weighted index, rebalanced on a monthly basis.
This rebalancing of constituents over time gives way for more active names to participate in what we observe as "market performance," and in a more appropriate manner than static selections and weightings criteria.
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AI Hardware Manufacturing
Groq develops cutting-edge AI inference technology enabling large-scale deployment of AI applications. Their product, the Language Processing Unit (LPU™) Inference Engine, is a hardware and software solution that offers unparalleled speed (10x), quality, and energy efficiency (1/10th) for AI computations compared to similar GPU-based inference systems. GroqCloud™ provides the infrastructure for researches to use state-of-the-art open-source Large Language Models (LLMs). Researchers can also utilize Groq technology through the ALCF Argonne Leadership Compute Facility, which features a GroqRack™ compute cluster. This cluster consists of an extensible accelerator network comprising 9 GroqNode™ servers, organized in a rotational multi-node network topology. GroqCard™ is a single clip accelerator card that prioritizes low latency, ease of integration, and power efficiency.
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Latest News and Updates on Scale AI
AI chip startup Groq grabs the spotlight - According to Axios, Groq is preparing to secure a new round of funding in the upcoming quarter, following a recent, modest capital injection. Click here to read more.
Groq: The new blazing-fast AI platform that beat ChatGPT and Gemini - Groq's innovative LPU promises to significantly outperform conventional Nvidia GPUs used by popular platforms like ChatGPT. While ChatGPT's GPUs process a modest 30-60 tokens per second, Groq's LPU achieves a remarkable 500 tokens per second for smaller models and 250 for larger ones, representing a 5-8 times performance improvement. Click here to read more.
Groq Acquires a New Firm to Boost AI Capabilities - Groq makes a strategic move by acquiring Definitive Intelligence with the aim to make AI tools more accessible and speed up innovation, which positions the combined entity at the forefront of the AI revolution. Click here to read more.
Annual Revenue and Revenue Growth
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Groq's Financial Data
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Series F Valuation
<span class="date">2021-04-13</span>
<span class="value">$1.13B</span>
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Implied Valuation
<span class="date">2024-05-27</span>
<span class="value">$3.6B</span>
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Change Since Last Round
<span class="date">2021-04-13 → 2024-05-27</span>
<span class="value green">+219.1%</span>
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Return on Investment (ROI)
ROI computed as of May 27, 2024.
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Bid:Ask Volume Ratio
ApeVue highlights the quarterly bid:ask volume ratio where there were at least three broker contributions within that period. Groq's broker contributions were 93% on the ask side in Q4 of 2024. Similarly, between April 1, 2024 and May 27, 2024 91% of the volume was on the ask side.
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Activity
ApeVue observed little to no institutional-level ($1M+) secondary market activity until March 2024. However, since mid-March 2024, the activity has grown exponentially, reaching 41 unique broker contributions as of May 27, 2024.
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Groq Private Comparables in the AI Sector
ApeVue highlights 13 active private companies within the AI sector as of May 27, 2024.
Change in ApeVue Valuation Since Last Funding Round
ApeVue uses composite price based on the institutional level contributions within the last 90 days to compute implied valuation. ApeVue's current implied valuation reported below is computed as of May 27, 2024 and compared to each company's latest funding round valuation:
- Groq's current implied valuation is$3.6B, a 219% increase from its Series C valuation at $1.13B in April of 2021.
- xAI's current implied valuation is $17.4B, a 1058% increase from its Series A valuation at $1.5B in November of 2023.
- Cohere's current implied valuation is $4.25B, a 93% increase from its Series C valuation at $2.2B in May of 2023.
- Glean's current implied valuation is $2.85B, a 29% increase from its Series D valuation of $2.2B in December of 2023.
- Hugging Face's current implied valuation is $4.65B, a 3% increase from its Series D valuation of $4.5B in August of 2023.
- Anthropic's current implied valuation is $18.35B, a 0.29% decrease from its Series D valuation of $18.4B in January of 2024.
- Scale AI's current implied valuation is $9.83B, a 29% decrease from its (recently completed) Series F valuation at $13.8B on May 17 of 2024.
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Change in Composite Price
The plot below illustrates the change in composite price from April 29, 2024, to May 29, 2024. Cerebras Systems shows the highest increase at 32%, while Dataiku experiences the most significant decrease at 21%. Groq's composite price decreased by 5% from $38.8 to $36.82.
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Activity
The plot below displays the 90-day activity based on institutional-level ($1M+) broker contributions as of May 27, 2024. Within the AI sector, Anthropic shows the highest activity with 58 contributions and Groq shows the second highest activity with 41 contributions.
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