Semiconductor startup Groq said on Monday it has secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced AI chips to the country.

Groq, a company that specializes in artificial intelligence semiconductors and is generally seen as a competitor to chipmaker Nvidia (NVDA),

U.S. semiconductor startup Groq said on Monday it has secured a $1.5 billion commitment from Saudi Arabia to expand the delivery of its advanced AI chips to the country. The Silicon Valley firm, founded by a former Alphabet AI chip engineer, is known for producing AI inference chips that optimize speed and execute commands of pre-trained models.