02:53 PM EDT, 05/22/2024 (MT Newswires) -- Nvidia's ( NVDA ) competitor Groq told investors it plans to raise $300 million, The Information reported Wednesday, citing people who spoke to the company's executives.

Groq is working with Morgan Stanley ( MS ) to raise the funds, according to the report.

Groq and Morgan Stanley ( MS ) did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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