Nvidia’s $12.93 Billion Hugging Face Deal Expands Jensen Huang's AI Platform Beyond Chips
Nvidia is paying $12.93 billion for Hugging Face, the open-source AI hub used by more than 18 million developers and 200,000 companies.
Overview
Nvidia Corporation (NASDAQ:NVDA) announced on Thursday that it has agreed to acquire Hugging Face for $12.93 billion. The deal gives the chip behemoth control of an influential platform within the world of AI. The company says it is used by more than 18 million developers and 200,000 companies.
Talks had been reported last week, but details were unsettled until today's confirmation. Nvidia's stock jumped today, up 2.5% by the afternoon. The S&P 500 and Nasdaq Composite were rising as well, up 1.1% and 1.6%, respectively.
Details
So what exactly is Hugging Face? The company's platform is a central hub for the open source AI development world, providing devs with access to millions of AI models and important data sets. Instead of building an AI system from scratch, devs can find an existing model or application and use it as-is or modify and adapt it. It also provides tools that help developers test and deploy those models.
Source
Originally published at www.fool.com.