đź•’ Created

Nvidia to Acquire Hugging Face for $12.9 Billion to Expand Open-Source AI Ecosystem

Nvidia announced the acquisition of Hugging Face for $12.9 billion. The deal includes $11.9 billion paid to shareholders and $1 billion in equity to retain employees. The acquisition is expected to close in the first half of next year. Jensen Huang, the CEO of Nvidia, stated that the company is committed to the open-source AI ecosystem. He noted that Nvidia has already released over 500 models and 250 open datasets on the platform. Huang emphasized that Hugging Face will remain an open platform where developers can choose their own models, frameworks, and clouds without being required to use Nvidia compute.\n Clem Delangue, the CEO of Hugging Face, explained that the company sought the deal because open-source AI reached a turning point requiring more resources and scale. He noted that open models were essential for defending the platform against a cyberattack by an unreleased OpenAI model. Delangue stated that the three founders and the entire team will join Nvidia, with the goal of reaching 100 million AI builders on the platform.

Sources

Paywall and unreadable sources