Nvidia to buy developer platform Hugging Face in $12.9bn deal
Summary
Nvidia is buying the AI developer platform Hugging Face for about $13 billion. This deal will help Nvidia support open AI models and prepare for changes in demand for its computer chips.Key Facts
- Nvidia will pay $12.93 billion to acquire Hugging Face.
- Hugging Face is a platform where developers share and test AI tools and models.
- The startup was founded in 2016 by three French entrepreneurs.
- Hugging Face is backed by companies like Intel, AMD, and Amazon.
- Nvidia’s CEO said Hugging Face will stay open to all developers and won’t require Nvidia chips exclusively.
- The acquisition could help Nvidia compete with U.S. and Chinese AI labs.
- Nvidia hopes the deal will balance slower sales from big customers like Microsoft and Meta.
- Hugging Face also provides data sets, software tools, and cloud services for AI development.
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