Nvidia to Buy AI Platform Hugging Face for $12.9bn: Report
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New York: Nvidia is set to acquire artificial intelligence platform Hugging Face for $12.9 billion as the US chipmaking giant seeks to diversify its operations, according to news outlet The Information.
The reported acquisition price represents a substantial increase from a $7 billion valuation that served as the baseline for initial negotiations late last year.
At that time, Hugging Face reportedly turned down a $500 million investment offer from the California-based semiconductor maker.
The deal marks a massive valuation surge from the $4.5 billion figure Hugging Face achieved during its previous funding round in 2023.
Founded in 2016 by three French entrepreneurs, the New York-based platform hosts open-source AI models as accessible alternatives to proprietary systems.
Demand for Hugging Face’s open software library has surged as companies seek cost-effective solutions for powering autonomous AI agents.
The report comes shortly after OpenAI models breached Hugging Face's internal systems, highlighting ongoing industry security concerns.
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