Nvidia acquires Groq assets for $20 billion in cash

According to Disruptive CEO Alex Davis, Nvidia has agreed to acquire the assets of Groq, a high-performance AI accelerator chip design company, for $20 billion in cash. Disruptive led Groq's latest funding round in September. Davis stated that his company has invested over $500 million in Groq since its founding in 2016. The deal progressed rapidly. Three months ago, Groq raised $750 million at a valuation of approximately $6.9 billion.