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Nvidia buying artificial intelligence platform Hugging Face for $13 billion
ABC News - Breaking News, Latest News and Videos • • business
Key Points:
- Nvidia is acquiring AI software platform Hugging Face for $12.93 billion, aiming to enhance its AI ecosystem with Hugging Face's extensive developer and company user base.
- Hugging Face serves over 18 million developers and hosts more than 3 million models, 500,000 datasets, and 1 million applications, with over 200,000 companies utilizing the platform.
- Despite recent AI security breaches involving Hugging Face and other AI models, Nvidia's CEO Jensen Huang emphasized that Hugging Face will remain an open platform supporting multi-cloud and multi-accelerator development without requiring Nvidia hardware.
- Nvidia's advanced AI chips are in high demand, contributing to the company’s strong financial performance, including quarterly profits of $59.69 billion, while the broader AI industry faces skepticism and concerns about job losses and data center expansion.
- Following the acquisition announcement, Nvidia's shares rose by 3%, while Hugging Face remains a private company.
