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NVIDIA to Acquire AI Chip Startup Groq for About $200 Million in Cash, Its Largest Acquisition
BlockBeats News, December 25th, according to CNBC reports, David Davis, CEO of Disruptive company leading high-performance AI accelerator chip designer Groq, revealed that NVIDIA has agreed to acquire Groq for $20 billion in cash in its latest round of financing. Davis's company has invested over $500 million in Groq since its founding in 2016, and he stated that the deal was reached swiftly.
Groq is expected to inform its investors about the transaction later on Wednesday. Davis said that although the acquisition includes all of Groq's assets, its early-stage Groq Cloud business is not part of this transaction. This will be NVIDIA's largest acquisition to date, with its previous largest acquisition being the nearly $7 billion purchase of Israeli chip designer Mellanox in 2019.
With the skyrocketing demand for AI accelerator chips to accelerate large language model inference tasks, Groq is targeting $500 million in revenue this year.
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