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Nvidia agrees to buy Hugging Face for $12.93 billion

Nvidia announced a $12.93 billion deal to acquire Hugging Face, the open-source AI platform hosting over 3 million models. The acquisition, priced at roughly 86 times revenue, gives the chipmaker a strategic foothold in open-source AI as open models increasingly challenge closed systems from rivals like OpenAI and Anthropic.

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Nvidia announced a $12.93 billion deal to acquire Hugging Face, the open-source AI platform hosting over 3 million models. The acquisition, priced at roughly 86 times revenue, gives the chipmaker a strategic foothold in open-source AI as open models increasingly challenge closed…

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