Nvidia has agreed to acquire open-source AI platform Hugging Face for $12.9 billion, according to a source with knowledge of the deal cited by The Information. This acquisition would give Nvidia a major foothold in open-source AI and help protect its dominance in the AI chip market, threatened by tech giants developing their own processors. Founded ten years ago and nearing profitability, Hugging Face now generates approximately $150 million in annual revenue, far from the $4.5 billion valuation during its last funding round in 2023. Negotiations have not yet produced a signed agreement and could still fall apart. The company previously rejected a $500 million investment from Nvidia last year.
Source: Read the original article
