Nvidia confirms it is buying Hugging Face for $12.93bn and promises to leave it open
Nvidia is buying Hugging Face for $12.93bn, confirming a deal that had been reported for the past week. The chipmaker is acquiring the platform where much of the open-source AI community stores and shares its models, while promising to leave the platform itself largely unchanged.
The price values the ten-year-old company at roughly 86 times its $150m in annualised revenue. Hugging Face has raised $395m since its founding, most recently $235m in 2023 in a round led by Salesforce Ventures, which valued the company at $4.5bn.
Jensen Huang has committed to openness as plainly as possible. “Hugging Face will remain an open platform for the entire AI ecosystem,” the Nvidia CEO said in a post on LinkedIn, adding that developers “will choose the models they want, the frameworks they want, the clouds and inference service providers they want and the computing platforms they want”.
That last part matters. Hugging Face...
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