Nvidia Agrees to Buy Hugging Face in $12.9 Billion Deal

Nvidia has agreed to buy Hugging Face for $12.9 billion, according to a report citing a person with knowledge of the deal.

Hugging Face runs the repository developers use to collaborate on, publish and pull open-source models and datasets.

The reported price is nearly three times Hugging Face's 2023 valuation of $4.5 billion, which was reached in a funding round that included Nvidia as an investor.

Nvidia's leadership views strong open models as a counterweight to the trend of its biggest customers building their own chips.