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Exclusive: Nvidia buying AI chip startup Groq for about $20 billion in its largest acquisition on record [MSNBC.com]

NVIDIA Corporation (NVDA)  More Company Research Source: MSNBC.com
Last nvidia corporation earnings: 2/13 04:20 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.nvidia.com/home/default.aspx
Nvidiafinancing roundDavis, 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. Investors in the round included Blackrock and Neuberger Berman, as well as Samsung, Cisco, Altimeter and 1789 Capital, whereDonald Trump Jr.Groq is expected to alert its investors about the deal later on Wednesday. While the acquisition includes all of Groq's assets, its nascent Groq cloud business is not part of the transaction, said Davis.It would mark by far Nvidia's largest deal ever. The chipmaker's biggest acquisition to date came in 2019 with the purchase of Israeli chip designerMellanoxcashGroq has been targeting revenue of $500 million this year amid booming demand for accelerator chips used in speeding up the process for large language models to complete inference-related tasks. The company was not pursuing a sale when it was app [Read more]
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Stockreport

Exclusive: Nvidia buying AI chip startup Groq for about $20 billion in its largest acquisition on record [MSNBC.com]

NVIDIA Corporation  (NVDA) 
More Company Research Source: MSNBC.com
Last nvidia corporation earnings: 2/13 04:20 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.nvidia.com/home/default.aspx
Nvidiafinancing roundDavis, 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. Investors in the round included Blackrock and Neuberger Berman, as well as Samsung, Cisco, Altimeter and 1789 Capital, whereDonald Trump Jr.Groq is expected to alert its investors about the deal later on Wednesday. While the acquisition includes all of Groq's assets, its nascent Groq cloud business is not part of the transaction, said Davis.It would mark by far Nvidia's largest deal ever. The chipmaker's biggest acquisition to date came in 2019 with the purchase of Israeli chip designerMellanoxcashGroq has been targeting revenue of $500 million this year amid booming demand for accelerator chips used in speeding up the process for large language models to complete inference-related tasks. The company was not pursuing a sale when it was app [Read more]
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