Nvidia buys AI chip startup Groq for $20 billion

Semiconductor giant Nvidia licensed AI technology from a startup and hired its top staff, underlining surging demand for cutting-edge chips. Nvidia, the world’s most valuable public company, dominates the semiconductor landscape and has accelerated its release and sale of high-end chips, but faces growing competition from other tech giants such as Amazon and Google. It targeted Groq — which was valued at just under $7 billion in a recent fundraising round — for its success in designing chips that are more efficiently able to handle AI use. The deal is substantially larger than any recent agreement inked by Nvidia, with one analyst telling The Information that the behemoth “likely saw something they were scared of” in Groq’s latest technology.

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