Nvidia to license AI chip challenger Groq's tech and hire its CEO

Nvidia has struck a non-exclusive licensing agreement with AI chip competitor Groq. As part of the deal, Nvidia will hire Groq founder Jonathan Ross, president Sunny Madra, and other employees.

CNBC reported that Nvidia is acquiring assets from Groq for $20 billion; Nvidia told TechCrunch that this is not an acquisition of the company and did not comment on the scope of the deal. But if CNBC's numbers are accurate, this purchase is expected to be Nvidia's largest ever, and with Groq on its side, Nvidia is poised to become even more dominant in chip manufacturing.