"Groq confirmed in a blog post on Wednesday that it has "entered into a non-exclusive licensing agreement with Nvidia for Groq's inference technology" and said the company will continue to operate independently. The startups is known for its Language Processing Unit, which is a custom chip designed for AI inference, namely, the process by which a trained AI model makes predictions or decisions.Groq was valued at about $6.9 billion as of three months ago and raised around $750 million in its latest funding round."
"As part of this agreement, Jonathan Ross, Groq's Founder, Sunny Madra, Groq's President, and other members of the Groq team will join Nvidia to help advance and scale the licensed technology," Groq added in the blog. A person familiar with the matter told Business Insider on Wednesday that Nvidia is not acquiring the chip startup. Neither Nvidia nor Groq mentioned the financial terms of the agreement. Jonathan Ross and Douglas Wightman were engineers at Google who started the project that became Google's first TPU chips, before leaving to found Groq. The TPUs are custom-made to accelerate large-scale machine-learning tasks designed to handle AI workloads, and are a major rival to Nvidia's GPUs."
Nvidia entered a non-exclusive licensing agreement for Groq's inference technology while Groq will continue to operate independently. The deal includes several Groq team members joining Nvidia, including founder Jonathan Ross and president Sunny Madra, to help advance and scale the licensed technology. Groq is known for its Language Processing Unit, a custom chip for AI inference, and was valued at about $6.9 billion with roughly $750 million raised in its latest funding round. The agreement does not constitute an acquisition, financial terms were not disclosed, and it reflects a broader trend of talent-and-technology deals in Silicon Valley.
Read at Business Insider
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