The Information · Open Source · Anthropic · OpenAI · Nvidia · Google · TechCrunch AI
Nvidia closes in on Hugging Face acquisition
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Nvidia has agreed to buy Hugging Face for $12.9 billion, The Information reported Wednesday night, citing a source familiar with the matter.
Key facts
- The company raised $235 million in 2023 in a funding round that valued it at $4.5 billion
- Hugging Face turned down a $500 million investment offer from Nvidia late last year that would have valued it at $7 billion, the Financial Times previously reported
- Nvidia has agreed to buy Hugging Face for $12.9 billion, The Information reported Wednesday night, citing a source familiar with the matter
- Hugging Face, founded in 2016, is one of the most popular hubs where developers share and download open-source AI models
Summary
TechCrunch reached out earlier to both Nvidia and Hugging Face for comment, and neither has yet responded. (Nvidia’s silence is particularly noteworthy here as the company has moved quickly in the past to address reports it considers inaccurate.) Maybe it was destined from the start. Why would Nvidia want that? Pretty much all of the biggest closed-source AI labs (OpenAI, Google, Amazon, and Anthropic) are now building their own AI chips to lessen their reliance on Nvidia. Should they be surprised that Hugging Face’s days as an independent outfit appear numbered?