No shade but most other coverage will focus on whether this signals an AI bubble. That's missing the story.

Nvidia explicitly did NOT acquire Groq. They licensed the IP and hired the talent. This structure dodges CFIUS review (Groq had $1.5B in Saudi government contracts), antitrust scrutiny, and years of regulatory delays.

The $13B premium over the September valuation was the cost of regulatory arbitrage. Announced Christmas Eve while Trump's AI Czar (Chamath's All-In podcast co-host) is in office. Chamath's Social Capital made AT LEAST ~$2B on this exit.

My article breaks down: what Nvidia actually bought vs what they left behind, why the deal structure matters, who got paid, and the political connections nobody's talking about.

It will be interesting to see if this is an exit for investors and which ones. Given it wasn’t an acquisition but licensing.

Trump Jr. also got in in September via 1789 Capital, where he is partner. After that Nvidia got permission to export GPUs to China.

In the meantime, Musk and Chamath have the gall to complain about the kleptocracy in democratic states and the poor suppressed billionaires:

https://xcancel.com/elonmusk/status/2005287147507769442#m

I wonder when Chamath will sit again on Tucker Carlson and tell a sob story about having self doubts.

> Why do I hate Chamath?

>Let's look at the sh he dumped on retail with his abysmal SPAC track record

I do not see why one would feel animosity towards Chamath for this reason. Was there fraud involved? Otherwise, all investors are liable for doing their own due diligence.