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. More than 18 million developers, researchers and creators use Hugging Face, which hosts more than 3 million models, 500,000 datasets and 1 million applications, according to Nvidia.
