Signal Nvidia confirms it will buy Hugging Face for $12.9 billion

Summary

Nvidia confirmed that it will acquire the AI platform Hugging Face for 12 point 93 billion dollars. The deal is structured as roughly 11 point 9 billion dollars in cash plus up to 1 billion dollars in equity retention for staff. Hugging Face hosts more than 18 million developers and researchers, 3 million models, and 200000 enterprise customers. The purchase is Nvidia's second largest acquisition, following its earlier 20 billion dollar purchase of Groq assets. Chief executive Jensen Huang said Hugging Face will keep operating as an open platform that continues to support open source and open weight models, and that using it will not require Nvidia compute.