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The chipmaker will gain control of a hub hosting millions of models and datasets to strengthen the distribution layer above its AI hardware. The agreement to acquire the open source repository for $12.9 billion gives the company a larger foothold in the AI ecosystem by owning more of the software and distribution layer sitting on top of its infrastructure.
Nvidia previously invested in a 2023 funding round that valued the platform at $4.5 billion. Microsoft also held discussions with the startup before the current deal was reached.
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Key sources
- SOURCE@amir“Nvidia agrees to take Hugging Face for $12.9 billion”x.com
- SUPPORT@firstsquawk“Open-Source AI Model Repository Hugging Face”x.com
- SUPPORT@katie_roof“They previously talked to Microsoft”x.com
- SUPPORT@wallstengine“NVIDIA already invested in Hugging Face’s 2023 funding round at a $4.5B valuation”x.com
- SUPPORT@stocksavvyshay“looks to own more of the software and distribution layer sitting on top of its AI infrastructure”x.com
- SOURCE@reuters“Nvidia agrees to buy Hugging Face for $12.9 billion”x.com
- SUPPORT@cnbc“Deal talks began after Hugging Face, an open-source AI platform developers use to collaborate, test and share tools, received acquisition interest from another suitor”x.com
- SOURCE@mervenoyann“the news you've seen we haven't signed a deal”x.com