Axios

Groq, a Mountain View, Calif.-based artificial intelligence chip startup backed by the likes of Tiger Global and Lee Fixel's Addition, is gearing up to raise a fresh round next quarter after taking in a small recent cash infusion, the company tells Axios.

Why it matters: The company, which says its AI chips can be 10 times faster than conventional ones, is at the center of the recent firings at venture firm Social Capital.

If China does the unexpected and allows TikTok to be sold, there are big questions as to who would want to buy it and for how much.

The big picture: TikTok's popularity hasn't translated into profits.