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Bitcoin, AI Coins Bounce as Nvidia Signs $20B AI Inference Deal with Groq

Varinder Singh
2 hours ago
Varinder Singh

Varinder Singh

Independent Sr. Journalist
Expertise : Bitcoin, Crypto, Global Macro, DeFi, Blockchain, Web3, US Stocks, AI, Regulations and Lawsuits, & More
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
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Bitcoin, AI Coins Bounce as Nvidia Signs $20B AI Inference Deal with Groq

Highlights

  • Bitcoin and AI coins surge amid $20 billion deal between Nvidia and Groq.
  • Nvidia signs a non-exclusive licensing agreement with Groq for its inference technology.
  • Bitcoin advances towards $88K and AI coins such as Bittensor jump 6% today.

Bitcoin and AI coins surged today following news that Nvidia has signed a $20 billion artificial intelligence (AI) inference technology deal with Groq. The partnership is set to accelerate AI adoption and boost AI-crypto convergence.

Nvidia Enters $20 Billion Deal with AI Inference Chip Startup Groq

Nvidia signed a non-exclusive licensing agreement with Groq for its inference technology, according to an official announcement on December 24. This announcement sparked renewed optimism in the AI and crypto sectors, with Bitcoin rising towards $88K.

The $20 billion deal marks a shared goal of expanding access to high-performance, low-cost inference technology. It will boost AI adoption as it focuses on delivering cutting-edge AI inference infrastructure.

Groq’s founder and CEO Jonathan Ross, president Sunny Madra, and other members of the Groq team will join Nvidia to help advance and scale the licensed technology. Investors anticipate a new wave of technological integration and innovation.

Notably, Groq will continue to operate as an independent company. Simon Edwards will take the role of Chief Executive Officer. Also, GroqCloud will continue to operate without interruption, Ross confirmed.

Bitcoin and AI Coins Price Jump

The major deal between tech giant Nvidia and high-performance AI inference chips startup Groq will likely accelerate AI adoption across industries, potentially boosting demand for decentralized computing and blockchain-based AI projects.

Bitcoin jumped nearly 1% to an intraday high of $87,956. The price is currently trading at $87,741 following a rebound from $86,411 lows. Trading volume remains low amid crash jitters over Friday’s $23 billion BTC options expiry.

However, experts have highlighted that the US is now the biggest seller of Bitcoin, while investors in Asia are buying the dip. Prices are driven by sentiment and capital flow, as evidenced by Bitcoin ETF outflows.

Bitcoin

Meanwhile, top AI coins tokens such as Chainlink (LINK), Bittensor (TAO), and Near Protocol (NEAR) saw a much-needed rebound, with TAO price jumping more than 6% to $224.

VIRTUAL and BAT skyrocketed by more than 4% and 11%. Also, GRT, INJ, ICP, LPT, IP, and FET, and other AI coins witnessed massive demand from investors.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Varinder is a seasoned leader in the fintech and crypto media with over 12 years of experience, including over 6 years dedicated to blockchain, crypto, and Web3 developments. He is known for covering high-impact and quality news stories for publishers such as CoinGape, The Coin Republic, and The Crypto Times, while perfecting and training multiple journalists during his tenure. Being a Master of Technology degree holder, analytics thinker, and tech enthusiast, he has shared his knowledge of disruptive technologies in over 6000 news articles and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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