Nvidia rises after deal to license Groq's chip technology
Shares of AI chip designer Nvidia NVDA.O rise 1.70% to $191.86
NVDA late Wednesday announced an agreement to license chip technology from startup Groq
Groq founder Jonathan Ross, President Sunny Madra and other members of its engineering team to join Nvidia
CNBC reported Nvidia agreed to acquire Groq's assets for $20 billion in cash
Groq, founded in 2016, specializes in what is known as inference, where artificial intelligence models that have already been trained respond to requests from users
Groq will continue to operate as an independent company with Simon Edwards as CEO, it said in a blog post
60 of 67 analysts rate Nvidia stock "buy" or "strong buy", 6 "hold" and 1 "sell"; median PT is $250 - data compiled by LSEG
As of last close, NVDA up 40.4% YTD
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