Nvidia has agreed to a "non-exclusive" license to Groq's technology, Groq said. It said its founder Jonathan Ross, who helped Google start its AI chip program, as well as Groq President Sunny Madra and other members of its engineering team, will join Nvidia.

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,

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.

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.

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

This article will be updated throughout the day, so check back often for more daily updates. ‘Twas the day after Christmas, and all along Wall Street, not a creature was stirring, not even a mouse. The Vanguard S&P 500 ETF (NYSEMKT: VOO) looks mostly flat premarket this morning,

Nvidia will buy most of Groq's AI chip assets in a $20 billion cash deal, excluding its cloud business, as it moves to strengthen low-latency inference and real-time AI workloads