NVIDIA Acquires Hugging Face for $12.93 Billion
NVIDIA has announced the acquisition of Hugging Face for $12.93 billion, promising to keep the platform open.
NVIDIA Acquires Hugging Face for $12.93 Billion
Jensen promises that the platform will remain open and using NVIDIA graphics cards will not be mandatory.
However, the backstory of the deal is interesting. Less than a year ago, Hugging Face turned down NVIDIA's investment of $500 million because it did not want a dominant investor.
Now, NVIDIA is buying the entire company for nearly three times its valuation in 2023.
And the price is impressive compared to Hugging Face's revenue. The company earns about $150 million a year, so NVIDIA is paying approximately 86 times its annual revenue.
Why it matters
AnalysisThis deal highlights the growing importance of AI platforms in the tech sector. The acquisition of Hugging Face could significantly impact the development and accessibility of AI technologies.
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