Nvidia Confirms It Will Buy Hugging Face for $12.9 Billion
Nvidia said Hugging Face hosts over 3 million models and is used by over 18 million developers.
TL;DR
- Nvidia acquired Hugging Face for $12.93 billion.
- Hugging Face's platform has 3 million models, 1 million applications, and 500,000 datasets.
- Nvidia CEO Jensen Huang stated Hugging Face will remain an open platform, supporting open-source models.
- Developers will not be required to use Nvidia compute to build on or deploy through Hugging Face.
- The acquisition allows Nvidia to create an open ecosystem tailored for its AI chips.
- Hugging Face was founded in 2016 and had raised over $395 million in funding.
- Hugging Face CEO Clem Delangue indicated the acquisition was sought for increased compute, support, collaboration, and visibility.
- Hugging Face reportedly rejected a $500 million deal from Nvidia last year and has $150 million in annualized revenue.