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News  ›  Benzinga

Chamath Palihapitiya Looks Set To Make A Windfall From Nvidia's Purchase Of Groq, Here Is What The SPAC King Said After The Deal

Benzinga Logo Benzinga By Vishaal Sanjay
Chamath Palihapitiya Looks Set To Make A Windfall From Nvidia's Purchase Of Groq, Here Is What The SPAC King Said After The Deal

Chamath Palihapitiya's Social Capital is poised to make a substantial windfall from Nvidia's $20.6 billion acquisition of semiconductor company Groq. Social Capital invested $62.3 million in Groq starting in 2017 and held close to one-third ownership at one point. Under the deal terms, Groq remains independent while Nvidia gains a non-exclusive licensing agreement for Groq's inference technology, with Groq's founder Jonathan Ross and other team members joining Nvidia.

Insights
MSpE   neutral

Mentioned as a conference host with no specific positive or negative context


NVDA   positive

Nvidia is acquiring Groq's inference technology through a $20.6 billion deal, expanding its AI chip capabilities and securing access to valuable technology from a competitor.