Nvidia Pays $12.9 Billion for Hugging Face Amid AI Boom
Nvidia has acquired Hugging Face for $12.9 billion in a recent deal. This acquisition is significant, especially considering that NBA star Kevin Durant and his business partner Rich Kleiman invested in Hugging Face's seed and Series A fundraising rounds.
Durant's investment in the company was reportedly substantial, with him investing $100,000 in the seed round and $150,000 in the Series A. If this report is accurate, Durant likely made over $60 million on his investment alone.
This acquisition highlights the growing importance of artificial intelligence and its applications in various industries. Hugging Face's technology has been widely used in the development of AI models, and Nvidia's acquisition suggests that it sees significant potential for growth and expansion in this area.