Nvidia has agreed to buy Hugging Face, the AI platform and open-source AI model repository, for $12.9bn, according to a report in US tech title The Information, which cited a person with knowledge of the deal.
The deal, which has not been confirmed by either side, would mark one of Nvidia’s biggest acquisitions to date, and comes as the US semiconductor giant continues to plough billions of dollars of investments into AI ecosystem players.
Hugging Face, founded by three French entrepreneurs, has been likened to the GitHub for AI models and datasets.
Based in New York, Hugging Face provides a repository where developers can download AI models, tools for running models, datasets for training AI models, as well as a community where developers and researchers can publish and collaborate on AI models.
Nvidia backed Hugging Face in a $235m Series D funding round in 2023, valuing it at $4.5bn, which is Hugging Face's last known valuation.
The world's biggest semiconductor company has invested billions of dollars in AI firms including OpenAI, Anthropic, CoreWeave, and Nebius, as it looks to power momentum across the entire AI sector.
The expected deal comes as Nvidia reported that second-quarter revenues more than doubled year-on-year to $96.2bn, driven by increased use of AI agents.
Image: ChatGPT
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