Nvidia Corporation announced its acquisition of Hugging Face, a leading open-source AI platform, for $12.93 billion. Hugging Face functions as a key hub for AI models and datasets, enhancing Nvidia’s influence in the AI space. Following the announcement, Nvidia’s stock rose by approximately 1.45%. CEO Jensen Huang assured users that Hugging Face will remain an open platform, supporting diverse models, frameworks, and computing platforms without restrictions. Hugging Face, valued at $4.5 billion after its 2023 funding round including Nvidia, Salesforce, and Alphabet, aims to continue fostering open-source alternatives to closed AI APIs. CEO Clem Delangue expressed enthusiasm about the acquisition, highlighting the need for greater compute power and collaboration to scale their vision.
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