Nvidia Snaps Up Hugging Face for $12.9 Billion AI Expansion

Nvidia has reportedly acquired Hugging Face, a startup that hosts open-source AI projects, for $12.9 billion.

Hugging Face was founded in 2016 as a chatbot service for teens and later open-sourced its framework for building AI applications.

The company's flagship product is a platform for hosting open-source AI models, which currently hosts over 2 million models.

Nvidia will gain a presence in the AI stack with this acquisition, and can more closely align Hugging Face's feature roadmap with its business goals.