Nvidia strikes $12.9bn deal to buy AI platform Hugging Face
Summary
Nvidia has agreed to buy the artificial intelligence platform Hugging Face for about $12.9 billion. Hugging Face is a popular platform where millions of developers share and test AI models, and the deal will help Nvidia expand its role in AI software alongside its well-known AI chips.Key Facts
- Nvidia will pay around $11.9 billion to Hugging Face investors and offer up to $1 billion in stock incentives to employees.
- Hugging Face has more than 18 million developers and hosts over 3 million AI models on its platform.
- Over 200,000 companies currently use Hugging Face’s AI tools and services.
- Hugging Face is known for its open-source AI models, which users can download and modify freely.
- Nvidia mainly makes AI chips but is increasing its focus on AI software with this acquisition.
- The deal will keep Hugging Face open and free for developers to use without requiring Nvidia’s chips.
- Hugging Face was founded in 2016 by French entrepreneurs and is backed by companies like Amazon, AMD, and Intel.
- Nvidia and Hugging Face already collaborate to help developers use Nvidia’s computing services through the platform.
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