US EditionNvidia buying AI chip startup Groq for about $20 billion in its largest acquisition on record
Nvidia's $20 billion cash acquisition of Groq boosts AI chip capacity amid surging demand, with Groq targeting $500 million revenue this year, investor Disruptive said.
- On May 30, 2024, Nvidia agreed to buy Groq Inc. for $20 billion in cash, excluding Groq Cloud, Groq's nascent cloud business.
- Groq, founded in 2016 by former engineers including Jonathan Ross, has been targeting revenue of $500 million this year amid booming demand for AI accelerator chips.
- Disruptive's Alex Davis said the deal came together quickly, with Groq expected to alert its investors later on Wednesday; investors included Blackrock, Neuberger Berman, Samsung, Cisco, Altimeter, and 1789 Capital.
- Groq was not pursuing a sale when approached by Nvidia, whose CFO Colette Kress declined comment, while AI chip rival Cerebras Systems withdrew an IPO after raising over $1 billion this year.
- Groq's roots go back to a 2016 $10.3 million fundraising filing, with CEO Jonathan Ross pictured at the May 30, 2024, GenAI Summit, as Nvidia's $20 billion deal would dwarf its 2019 Mellanox purchase.
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Nvidia expands AI empire with Groq talent grab
CEO Jonathan Ross, former Google engineer who founded Groq in 2016, President Sunny Madra and other startup executives will join Nvidia
Nvidia seals $20bn Groq deal as AI chip race accelerates
ALBAWABA- Nvidia announced its largest-ever acquisition, agreeing to buy assets from AI chip startup Groq for approximately $20 billion in cash, alongside a non-exclusive licensing agreement for Groq’s technology and the recruitment of key executives and engineers...
Nvidia's Groq deal signals a strategic push to defend its AI inference turf
Nvidia has agreed to buy key assets from AI accelerator startup Groq in the company's largest acquisition to date, a move that underscores how the battle in artificial intelligence is increasingly shifting from training dominance toward inference efficiency and cost control.
der Standard AT
der Standard DEThe start-up has also specialised in AI inference chips and more than doubled in recent months The acquisition is expected to take place in cash
Nvidia Reportedly Shells Out $20.6 Billion For Groq, CEO Jonathan Ross Says He's Joining Rival Chip Giant Along With The Team - NVIDIA (NASDAQ:NVDA)
Groq has licensed its inference technology to Nvidia for $20 billion in cash to boost AI performance worldwide. Groq will remain independent.
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