Nvidia Acquires AI Platform Hugging Face
American chip giant Nvidia has reached an agreement to acquire Hugging Face, the popular platform hosting over two million artificial intelligence models, for $12.9 billion.
Founded by French entrepreneurs and transforming into the reference library of the artificial intelligence world, Hugging Face is being acquired by US technology giant Nvidia for $12.9 billion.
The Founding Story of Hugging Face
Following a meeting in 2011 between French entrepreneurs Clement Delangue and Julien Chaumond, their paths crossed with Thomas Wolf. Founded by these three individuals, the platform initially targeted a chat-based interface designed for teenagers.
Transition to Open Source Model
Developing in the Station F incubator in Paris, the company later transitioned to a B2B model, offering artificial intelligence models for professionals and businesses. The platform grew rapidly with the rise of generative artificial intelligence.
Today, hosting more than two million models and reaching 18 million users, the platform distinguishes itself from other closed systems in the industry by focusing on open-source models.
Acquisition Process and Nvidia Agreement
Hugging Face, which maintained its independence for a long time and previously turned down numerous offers, reached an agreement with Nvidia due to the commitment to developing the open ecosystem.
Reflections in Europe and France
Prior to the official announcement, French Minister of Economy Roland Lescure voiced concerns over startups in Europe being acquired by US companies, emphasizing that this should serve as a warning.
The co-founders stated that the majority of the team is French and expressed hope that more investment and resources would be channeled into the European technology ecosystem following this acquisition.