Nvidia acquires open-source AI platform Hugging Face for $12.9bn
Nvidia has announced its acquisition of Hugging Face, a leading open-source AI platform, for approximately $12.9 billion. The deal structure includes $11.9 billion paid directly to Hugging Face investors, with an additional up to $1 billion in stock-based retention incentives for employees joining Nvidia.
Hugging Face, backed by major technology companies including Amazon, AMD, and Intel, has become a central hub for machine learning and AI application development. In a statement, Nvidia president and CEO Jensen Huang confirmed that Hugging Face will maintain its open-source status following the acquisition, and emphasized that developers will not be required to use Nvidia technology to work with the platform.
Huang characterized the acquisition as a strategic move to enhance Nvidia’s infrastructure offerings and developer resources globally. The deal aims to expand Hugging Face’s capabilities for developers and organizations worldwide, aligning with Nvidia’s accelerated pivot toward artificial intelligence as a core business focus.