Stocks
Nvidia Finalizes $12.9B Acquisition of Open-Source AI Platform Hugging Face
Nvidia has finalized its acquisition of open-source AI platform Hugging Face for $12.9 billion.
The purchase, announced to investors and stakeholders, includes a valuation of approximately $11.9 billion from Nvidia itself, with up to $1 billion in stock incentives potentially included.
Hugging Face's founders have expressed gratitude towards Nvidia, stating that the acquisition will enable their platform to expand its capabilities and influence on a global scale.
Nvidia has assured users of Hugging Face that the platform will remain open-source following the acquisition, allowing developers to continue using it without being required to integrate Nvidia technology.