Nvidia acquires open-source AI platform Hugging Face for $12.9bn

Nvidia acquires open-source AI platform Hugging Face for $12.9bn Firm to pay approximately $11.9 billion to Hugging Face investors, could offer up to $1 billion in stock-based retention incentives Nvidia has acquired the artificial intelligence platform Hugging Face for $12.9 billion. As BBC News reports, Nvidia will pay about $11.9 billion to Hugging Face investors and may offer up to $1 billion in stock-based incentives. Amazon, AMD, and Intel are also investors in the open-source AI platform. "Nvidia's infrastructure, engineering and global reach can help improve platform reliability, safety, model evaluation, inference and deployment capabilities, while preserving the open ecosystem that made Hugging Face foundational." Hugging Face was founded in 2016 in New York City by French entrepreneurs Clément Delangue, Julien Chaumond, and Thomas Wolf.