Nvidia Acquires Hugging Face for Record-Breaking $12.93 Billion

Nvidia, the world's largest supplier of AI chips, has made another major move in the field by acquiring Hugging Face for $12.93 billion.

Hugging Face is an open-source platform where the AI community collaborates on models, datasets, and applications, based in New York.

Nvidia's president and CEO, Jensen Huang, said that developers will continue to have the freedom to choose their own models, frameworks, clouds, inference providers, and computing platforms when working with Hugging Face under Nvidia's ownership.

Jon Peddie, president of Jon Peddie Research, commented on the deal, saying 'Nvidia isn't buying a model company here. It's buying the distribution layer for open AI.'

Hugging Face hosts more than 3 million models, 500,000 datasets, and 1 million applications, drawing over 18 million developers, researchers, and creators, with more than 200,000 companies using the platform.