Nvidia Acquires Hugging Face in $12.9 Billion AI Power Play

Nvidia has confirmed its $12.9 billion acquisition of Hugging Face, one of the most widely used platforms for sharing artificial intelligence models, datasets and applications.

The deal was announced on September 3 and is Nvidia's second-largest acquisition after its $20 billion purchase of Groq's assets last year.

Hugging Face is used by more than 18 million developers and hosts over 3 million models, 500,000 datasets and 1 million applications across 200,000 companies.

Nvidia CEO Jensen Huang said Hugging Face 'will remain an open platform for the entire AI ecosystem' and will 'continue to support open source and open weight models from across the ecosystem, from every model builder', according to a report by dataconomy.com.