Nvidia has announced plans to acquire the Hugging Face platform for $12.93 billion. Nvidia has assured users that Hugging Face will remain an open platform for the entire AI ecosystem. Developers will still be able to choose the AI models, cloud services, providers, and computing platforms that best suit their needs.
They will not be required to use Nvidia’s resources to create or deploy applications through Hugging Face. Hugging Face was founded in 2016 as an entertainment app for teenagers. However, by 2020, it had transformed into a major platform for artificial intelligence development.
Today, developers can use it to store, download, and test AI models, datasets, and various tools, many of which are available for free. In 2023, Hugging Face raised $235 million from several major technology companies, including Nvidia. At that time, the platform was valued at approximately $4.5 billion.
According to The Information, Hugging Face currently generates around $150 million in annual revenue. The acquisition could be a major step for Nvidia as it continues to strengthen its position in the rapidly growing AI industry. Hugging Face has a large community of developers, so the deal could help Nvidia reach even more people working with AI.
It will be interesting to see how the platform develops under Nvidia’s ownership while keeping its open and independent approach. Here we are to serve you with news right now. It does not cost much, but worth your attention.
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