Nvidia buys Hugging Face for $12.9B as AI labs go closed
nvidia acquires hugging face for $12.9 billion, a pricey move to bolster open-source ai and counter closed labs' shift away from nvidia hardware.
nvidia has agreed to acquire hugging face, a leading open-source ai platform, for $12.9 billion. hugging face generates $150 million in annual revenue and has been a key player in the open-source ai space for ten years. the acquisition is part of nvidia's strategy to develop open-source ai models, having previously committed $26 billion over five years to this effort. the deal also helps nvidia counter the trend of closed ai labs, such as openai and anthropic, reducing their dependence on nvidia hardware by developing custom chips and partnering with other suppliers.