Nvidia Scoops Up Open-Source AI Platform Hugging Face in $13 Billion Deal

Nvidia has announced its purchase of Hugging Face, an open-source AI platform, for nearly $13 billion. The acquisition aims to provide users with access to a wide range of AI models and tools, allowing them to customize and deploy their own models without relying on privately controlled services.

Hugging Face's hub has been used by over 18 million developers, researchers, and creators since its establishment in 2016. Nvidia CEO Jensen Huang stated that the platform will remain open going forward, where users can find, share, customize, and deploy AI models.

The purchase price of $13 billion is a significant investment for Nvidia, but Huang emphasized that it's a long-term strategy to support innovation and collaboration in the field of AI. The company will also pay up to $1 billion in employee retention bonuses on top of the acquisition cost.