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Nvidia Acquires Hugging Face for $12.9 Billion
Nvidia is reportedly acquiring AI company Hugging Face for $12.9 billion, giving it a major foothold in open-source AI.
Hugging Face hosts open-source AI models, benchmark evaluations, and data sets used for AI training and testing.
An acquisition would also help Nvidia protect its dominant position in AI chips by making it harder for rivals to reduce their reliance on Nvidia hardware.
Nvidia may have previously offered Hugging Face $500 million investment that would have valued the company at $7 billion, but Hugging Face turned it down due to concerns about having a single dominant investor.