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Nvidia’s $13 billion Hugging Face bet reveals Jensen Huang’s vision for the next AI battleground
Good morning. Nvidia will pay $12.93 billion for Hugging Face, which is generating roughly $150 million in annualized revenue.
Summary
Good morning. Nvidia will pay $12.93 billion for Hugging Face, which is generating roughly $150 million in annualized revenue. At about 86 times revenue, the price makes clear that Nvidia values Hugging Face less for the business it is today than for the strategic position it occupies at the center of open-source AI. The chipmaker announced Thursday that it has agreed to acquire Hugging Face, a major platform for open-source AI models, datasets and applications.
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