Nvidia Acquires AI Chip Startup Groq's Assets in $20 Billion Deal
By
nickrubin
Hot, fresh, and worth queueing round the block for.
Summary
Nvidia is acquiring assets from AI chip startup Groq for approximately $20 billion in cash, marking Nvidia's largest acquisition to date. The deal involves Groq, a designer of high-performance AI accelerator chips that was founded in 2016 and recently raised $750 million at a $6.9 billion valuation. The acquisition came together quickly according to Alex Davis, CEO of Disruptive, which led Groq's latest financing round and has invested over half a billion dollars in the startup since its founding.
Key quotes
· 4 pulledNvidia has agreed to buy assets from Groq, a designer of high-performance artificial intelligence accelerator chips, for $20 billion in cash
Davis, whose firm has invested more than half a billion dollars in Groq since the company was founded in 2016, said the deal came together quickly
Groq raised $750 million at a valuation of about $6.9 billion three months ago
Nvidia is making its largest purchase ever, acquiring assets from 9-year-old chip startup Groq for about $20 billion
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