Nvidia Reportedly Bidding $12.9 Billion for Hugging Face
According to a report by CNBC citing The Information, Nvidia is in talks to acquire AI model platform Hugging Face for approximately $12.9 billion. While no official confirmation has been given from either company, the deal would mark a significant expansion of Nvidia's presence into the software and open-source AI ecosystem beyond its core chip business. Hugging Face, valued at around $4.5 billion in 2023 after raising $235 million, is an influential hub for developers working with AI models. The acquisition interest reportedly emerged following other potential bidders' attention to the company. Nvidia had previously proposed a $500 million investment that was rejected by Hugging Face last year. The deal could provide strategic benefits such as access to cloud computing through Hugging Face's existing compute rental services, potentially allowing Nvidia to utilize surplus capacity more effectively.
Tickers: $NVDA
Topics: AI cloud computing semiconductors software ecosystem