Groq enters into a non-exclusive licensing agreement with Nvidia for Groq’s inference technology

Yesterday, Groq officially announced that it has entered into a non-exclusive licensing agreement with Nvidia for Groq’s inference technology.

As part of this agreement, Nvidia will hire Jonathan Ross (Groq’s founder), Sunny Madra (Groq’s President), and other members of the Groq team to help advance and scale the licensed technology. Though it is specified that Groq will continue to operate as an independent company, Simon Edwards has been appointed as the new CEO (Chief Executive Officer) to lead the company. Meanwhile, GroqCloud will also continue to operate without interruption.

It was previously reported that Nvidia has acquired assets from Groq for $20 billion, but Nvidia has told TechCrunch that this is not an acquisition of the company, though it did not comment on the scope of the deal. It is said that this new agreement between the two companies may now make Nvidia more dominant in chip manufacturing.

Since last year, Groq’s growth has been rapid as it powers the AI apps of more than 2 million developers (up from about 356,000 last year). The company raised $750 million at a $6.9 billion valuation in September.

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