NVIDIA Corporation (NVDA) To Make its Largest Purchase From Groq

Group 1 - NVIDIA Corporation (NASDAQ:NVDA) is set to make its largest purchase ever, acquiring high-performance AI acceleration chips from startup Groq for approximately $20 billion in cash [1] - Groq, a 9-year-old chip startup, has entered into a non-definitive agreement with NVIDIA, while maintaining its independence as a company [2] - NVIDIA plans to integrate Groq's low-latency processors into its AI factory architecture, enhancing its capabilities in the AI sector [2] Group 2 - Wall Street analysts have a positive outlook on NVIDIA's stock following the announcement, with Bank of America Securities reiterating a Buy rating and a price target of $275, and Cantor Fitzgerald also maintaining a Buy rating with a price target of $300 [3] - NVIDIA designs and sells specialized processors that are essential for gaming, AI, data centers, professional visualization, and the automotive industry, having developed the GPU and CUDA parallel computing platform [4]