Illustration: Lindsey Bailey/AxiosShareholders in Groq, a hot AI chipmaking startup, will receive handsome payouts from the company's $20 billion deal with Nvidia, even though no equity is changing hands, Axios has learned from sources close to the deal.Why it matters: Social media has been full of questions about what the unusual arrangement means for Groq employees — both those heading to Nvidia and those staying put. Catch up quick: Groq and Nvidia on Wednesday announced a "non-exclusive licensing agreement," with media reports accurately pegging the deal value at around $20 billion.The companies said that Groq CEO Jonathan Ross and president Sunny Madra would join Nvidia, while Groq would continue to operate as a standalone company led by new CEO Simon Edwards (who had been CFO).It's an unusual structure, but the latest in a recent spate of Big AI deals that seem designed to avoid tripping antitrust wires.Behind the scenes: Most Groq shareholders will receive per-share distributions tied to the $20 billion valuation, according to sources. Around 85% will be paid up-front, while another 10% is paid midyear 2026 and the remainder at the end of 2026.Around 90% of Groq employees are said to be joining Nvidia, and they will be paid cash for all vested shares. Their unvested shares will be paid out at the $20 billion valuation, but via Nvidia stock that vests on a schedule.There are also around 50 members of that group whose entire stock packages are being accelerated and paid out in cash.Remaining Groq employees will also be paid for vested shares, plus will receive a package that includes economic participation in the ongoing company.Any Groq employee — staying or leaving — with the company for less than one year will have their vesting cliff dropped, so they can get some up-front liquidity.By the numbers: Groq had raised around $3.3 billion in venture capital funding since its 2016 founding, including a $750 million infusion this past fall at nearly a $7 billion post-money valuation.Backers include Social Capital, Disruptive, BlackRock, Neuberger Berman, Deutsche Telekom Capital Partners, Samsung, 1789 Capital, Cisco, D1, Cleo Capital, Altimeter, Firestreak Ventures, Conversion Capital and Modi Venture.The company has never done a secondary tender for either employees or investors.The bottom line: Everyone gets paid. A lot.