Overview
- Citing Alex Davis of Disruptive, CNBC reports Nvidia has agreed to acquire Groq for about $20 billion in cash.
- Davis says the deal covers Groq’s assets but excludes the company’s nascent Groq Cloud business.
- Nvidia has not confirmed the transaction, and CFO Colette Kress declined comment as Groq investors were expected to be notified Wednesday.
- If completed, the acquisition would be Nvidia’s largest to date, surpassing its roughly $7 billion purchase of Mellanox in 2019.
- Groq raised $750 million at a valuation near $6.9 billion in September, was founded in 2016 by former Google engineers including Jonathan Ross, and has been targeting about $500 million in 2025 revenue.