00:03 Speaker A
Welcome back to Morning Brief presented by Robin Hood. Let’s fire up some trending tickers on the Yahoo Finance platform. We’re watching Nvidia, Micron.
00:10 Speaker A
First up, Nvidia, the chip giant is making its largest deal ever, acquiring the assets of AI chip startup Groq. Nvidia has reportedly paid $20 billion in cash.
00:23 Speaker A
The companies are calling it a non-exclusive licensing agreement. Plus, Groq’s founder and CEO Jonathan Ross and other executives will officially join Nvidia.
00:32 Speaker A
What remains of Groq will operate as an independent company, likely focused on the cloud business. Nvidia’s shares are rising ahead of the open.
00:41 Speaker A
Next, Micron. The company is set to report at a new record as the memory chipmaker extends its post earnings rally. In mid-December, Micron posted earnings that blew past Wall Street expectations. One analyst even called the report the best in chip history outside of Nvidia’s May 2023 results, which kicked off the AI stock rally.
00:59 Speaker A
Finally, I’m watching airlines. Major winter weather bearing down on both sides of the country, set to disrupt holiday travel. Nearly 1,000 flights have already been canceled Friday, in hundreds just around New York City due to the threat of a major snowstorm. Between 5 to 9 inches of snow are expected starting late Friday afternoon and into Saturday.
01:21 Speaker A
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