NVIDIA has agreed to acquire Hugging Face, a leading open-source platform for artificial intelligence and machine learning, for approximately $12.93 billion.
The acquisition targets the growth of the platform's infrastructure and services, which are used by platform developers, software engineers, and research institutions worldwide. The company behind Hugging Face, Clem Delangue, Julien Chaumond, Thomas Wolf, and their team, have been working over the past decade to build a robust repository for AI models. The acquisition aims to further expand access to Hugging Face's platform among these groups.
The deal was announced on Friday and marks one of several high-profile acquisitions in NVIDIA's push to strengthen its position in the rapidly growing field of artificial intelligence. By acquiring Hugging Face, NVIDIA is seeking to bolster its presence in this area and enhance its ability to support enterprise customers and research institutions globally. The acquisition is expected to close later this year pending regulatory approvals.