Nvidia to Snap Up Hugging Face in Record-Breaking Deal

Nvidia, a leading chipmaker, has agreed to acquire Hugging Face, an open-source AI platform, in a deal reportedly worth $12.9 billion.

The acquisition marks one of Nvidia's largest deals to date and would give the company control over a large repository of AI models and datasets.

Hugging Face's annualized revenue is around $150 million, according to The Information.

This is a significant premium for Hugging Face, which was valued at $4.5 billion just last year after a funding round backed by investors including Nvidia, Salesforce, and Google.

The deal comes as Nvidia continues to expand its presence in the AI ecosystem, with revenue from data centers more than doubling to $89 billion in the latest quarter.