Over the holidays, Nvidia struck a $20 billion USD licensing deal with AI infrastructure startup Groq, setting up payouts for Canadian investors. Framed as non-exclusive, the agreement licenses Groq IP to Nvidia, moves executives over, and leaves Groq independent. Critics call it acquisition-like amid Nvidia’s dominant chip position.
Canadian backers include Garage Capital, whose Mike McCauley called it a “fabulous outcome,” and Social Capital’s Chamath Palihapitiya. Groq employs about 90 Canadians, maintains a Toronto office, and supplies chips for Bell data centres, underscoring Canada’s role in global AI infrastructure.
Want to know more? Check out the source code on BetaKit.