Nvidia’s Record $20B Groq Acquisition as S&P 500 Eyes Weekly Gains
Nvidia agrees to acquire Groq assets for a record-breaking $20 billion as the S&P 500 continues its year-end rally. Leather goods prices surge 22% amid tariff pressures.
The Santa Claus rally is officially in full swing. The S&P 500 is up 1.4% this week, hovering near fresh record highs as markets return from the Christmas break. Historically, the last five trading days of the year have seen an average gain of 1.3%, and 2025 appears to be following that winning script with the Dow Jones and Nasdaq also climbing over 1%.
Nvidia Drops a $20 Billion Bombshell
According to CNBC’s David Faber, Nvidia has agreed to buy assets from AI chip startup Groq for $20 billion in cash. This is a massive leap from its previous record—the $7 billion Mellanox deal in 2019. The deal brings Groq’s founder Jonathan Ross and other top talent in-house, signaling Nvidia's aggressive push to maintain its dominance in high-speed AI inference technology.
The Hidden Cost of Fashion: Tariff Impact
It’s not all gains for consumers, as leather goods prices are set to remain 22% higher for the next couple of years. Tapestry, the owner of Coach, warned that tariff-related expenses could eat up $160 million in profits. Supply chain bottlenecks in China and Vietnam are primarily blamed for the rising costs of boots and bags.
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