Nvidia Set to Acquire Hugging Face for $12.9 Billion

Nvidia is reportedly set to acquire Hugging Face, a leading open-source AI platform, for $12.9 billion in one of its largest purchases to date.

The acquisition would significantly expand Nvidia's influence beyond chipmaking into the software and distribution side of artificial intelligence.

Hugging Face, co-founded in New York in 2016 by Clément Delangue, Julien Chaumond, and Thomas Wolf, is renowned for its open-source AI model aggregation platform.

The company has over 13 million registered users, hosts approximately 2.5 million models and 950,000 datasets, and boasts annualized revenue of $150 million.