Groq
ConvictionModerate
AI inference accelerators (LPU) + inference neocloud (GroqCloud); fabless chip + pay-per-token cloud + hardware/licensing
Revenue
Not publicly disclosed/audited. Press/investor estimatesSacra): ~$90M (2024), ~$500M (2025E investor guidance) — unverified, treat as directional.Rev growth
~456% 2024→2025E per investor guidanceSacra); not audited, no 2026 figure disclosed.Gross margin
Not disclosed. Inference-cloud unit economics depend on power cost and chip amortizationstructurally pressured by token-price competition. The non-recurring Nvidia license (~$17B cash over 3 installments through end-2026) dwarfs operating revenue.Op margin
Not disclosedCapex intensity
Not disclosedValuation
~$6.9B last disclosedSeries E, $750M, Sept 2025); June 2026 $650M round valuation not disclosed — secondary marks range ~$3.6B–$6.9B post-Nvidia deal. Total funding ~$2.4–3B across 7 rounds.Valuation trail
$20B20.0× since Apr 2021
4 marks · Apr 2021–Dec 2025
private — no public price
Priced round Secondary / SPAC mark
Priced rounds C/D/E are firm; Series C is a disclosed '>$1B' unicorn threshold (exact post-money not given). The Dec-2025 Nvidia ~$20B figure is a licensing+acqui-hire deal value (patents/software/team), not a priced equity round — tagged secondary. Seed (2017) and the Jun-2026 $650M round had undisclosed valuations and are omitted.
The read
Where our coverage leans
Coverage leans bearish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Q2 2026 (Jun 2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence