The deal was first reported as an exclusive with CNBC on Wednesday. Alex Davis, the CEO of Disruptive, the company that led Groq's latest financing round, said Nvidia has agreed to buy Groq's assets for $20 billion in cash, the news outlet reported.

By combining Groq's inference technology with its own GPU ecosystem, Nvidia is positioning itself to control the full lifecycle of AI computation.

Groq, a rival to Nvidia in the AI chip race, has entered into a non-exclusive agreement with the Green Team, with a deal valued at $20 billion, roughly $13 billion more than Groq's last evaluation. Nvidia will also hire the firm's founder and CEO,

A new type of dealmaking is on the rise in Silicon Valley as Nvidia reaches a non-exclusive deal with a chip startup and hires its top engineers.

Groq CEO Jonathan Ross’ net worth has reportedly jumped sharply following Nvidia’s $20 billion deal, spotlighting how the landmark partnership has boosted the AI chip startup founder’s wealth.

NVIDIA shares climbed to $190.16 in overnight trading following the company's $20 billion licensing agreement with AI chip startup Groq.

Nvidia has agreed to license technology from AI startup Groq for use in some of its artificial intelligence chips, marking the chipmaker's largest deal and underscoring its push to strengthen competitiveness amid surging demand.

Intel Corp. shares fell after a report said Nvidia stopped a test using Intel's production process to make advanced chips. The report from from Reuters. Norah Mulinda reports. (Source: Bloomberg)