"Nvidia Corp. agreed to a licensing deal with artificial intelligence startup Groq, furthering its investments in companies connected to the AI boom and gaining the right to add a new type of technology to its products. The world's largest publicly traded company has paid for the right to use Groq's technology and will integrate its chip design into future products. Some of the startup's executives are leaving to join Nvidia to help with that effort, the companies said."
"Groq will continue as an independent company with a new chief executive, it said Wednesday in a post on its website. Nvidia's technology already dominates data centers that are at the heart of the explosion in spending on new computing needed for AI software and services. The popularity of its existing offerings has made Nvidia by far the richest company in the chip industry and it has said it will use some of that cash to advance the uptake of AI across the economy."
"Groq is among the startups and companies such as Alphabet Inc.'s Google that are developing their own AI chips to rival Nvidia. The startup, which was founded in 2016, raised $750 million at a post-funding valuation of $6.9 billion in September. At the time, Groq said it would use the funds to expand its data center capacity. Its data center business, which offers outsourced computing, will continue, the company said in the post."
Nvidia agreed to a licensing deal to use Groq's chip design and will integrate that design into future products. Nvidia paid for the licensing rights and will add Groq's low-latency chips to its product lineup, expanding capabilities and opening new market areas. Several top Groq executives, including CEO Jonathan Ross, will join Nvidia to help advance and scale the licensed technology. Groq will remain an independent company with a new chief executive and will continue its data-center business offering outsourced computing. Groq raised $750 million in September at a $6.9 billion valuation. Nvidia's dominance in data centers underpins its push to promote broader AI adoption.
Read at www.mercurynews.com
Unable to calculate read time
Collection
[
|
...
]