Nvidia strikes $20 billion deal to acquire Groq assets [Yahoo! Finance]
NVIDIA Corporation (NVDA)
Last nvidia corporation earnings: 2/13 04:20 pm
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Source: Yahoo! Finance
"As part of this agreement, Jonathan Ross, Groq's Founder, Sunny Madra, Groq's President, and other members of the Groq team will join Nvidia to help advance and scale the licensed technology," Groq announced in a blog post on Wednesday . "Groq will continue to operate as an independent company with Simon Edwards stepping into the role of Chief Executive Officer. GroqCloud will continue to operate without interruption." The deal was first reported as an exclusive with CNBC on Wednesday. Alex Davis, the CEO of Disruptive, the company that led Groq's latest financing round, said Nvidia has agreed to buy Groq's assets for $20 billion in cash, the news outlet reported. Davis's firm has invested more than half a billion dollars in Groq over the past nine years, CNBC reported. "We plan to integrate Groq's low-latency processors into the NVIDIA AI factory architecture, extending the platform to serve an even broader range of AI inference and real-time workloads," Nvidia CEO Jensen Hua
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News
- Nvidia-Groq deal is structured to keep ‘fiction of competition alive' [CNBC]CNBC
- Nvidia's Groq deal underscores how the AI chip giant uses its massive balance sheet to 'maintain dominance' [Yahoo! Finance]Yahoo! Finance
- Nvidia's Groq deal underscores how the AI chip giant uses its massive balance sheet to 'maintain dominance' [Yahoo! Finance Canada]Yahoo! Finance Canada
- MemryX Unveils MX4 Roadmap: Enabling Distributed, Asynchronous Dataflow for Highly Efficient Data Center AI [Yahoo! Finance]Yahoo! Finance
- Why Nvidia Needs Groq To Win The War Against Google's TPUs [Seeking Alpha]Seeking Alpha
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