Nvidia to Acquire Open-Source AI Platform Hugging Face
Technology giant Nvidia has reached a formal agreement to acquire popular open-source platform Hugging Face for $12.93 billion.
Following weeks of speculation, AI chipmaker Nvidia has announced the acquisition of open-source artificial intelligence platform Hugging Face in a $12.93 billion deal.
Details and Financial Dimensions of the Deal
It was officially announced that the total value of the agreement reached between Nvidia and Hugging Face is $12.93 billion, with this development making the giant chipmaker the owner of a major platform.
The Scale of the Hugging Face Platform
Founded in 2016, the platform continues to host numerous models, applications, and datasets used by millions of developers.
Executive Statements and Future Plans
Nvidia CEO Jensen Huang stated that the platform will remain open to the entire artificial intelligence ecosystem and that no mandatory hardware requirements will be imposed.
Hugging Face CEO Clem Delangue expressed that the Nvidia partnership will bring great visibility and scale to the platform in its new phase.
Financial Structure and Investment History
Generating an annual revenue of approximately $150 million prior to the acquisition, the platform had previously received financial backing from giant companies, including Nvidia.