Groq Shareholders Get a $7.6 Billion Payout

It’s been more than a month since Nvidia entered an agreement, made public on Christmas Eve, to license the technology of chip startup Groq and hire its top executives including CEO Jonathan Ross. Now the terms of the deal are coming into focus.  

Groq told shareholders last month it expected to receive $17 billion in cash from Nvidia based on the licensing agreement, paid out in three installments by the end of this year. This month, Groq shareholders received $7.6 billion of that amount, according to an email the company sent to them.