Nvidia Snaps Up Hugging Face for $13 Billion Open-Source Push

Nvidia has agreed to acquire AI startup Hugging Face in a transaction valued at about $13 billion, adding a popular software platform to the chip giant's AI empire.

The price includes an equity-based retention program of as much as $1 billion for Hugging Face employees who join Nvidia, according to a statement on Bloomberg Terminal Thursday.

The deal is part of Nvidia's push into open-source technology. The company has been expanding its offerings in the AI space with several high-profile acquisitions in recent years.