Nvidia confirms it is buying Hugging Face for $12.93bn and promises to leave it open

Nvidia is acquiring Hugging Face for $12.93 billion, valuing the ten-year-old startup at about 86 times its $150 million annualised revenue. The deal keeps Hugging Face’s brand, leadership and open-platform model, while Nvidia, already its largest contributor of open models, promises the service will remain neutral across accelerators and cloud providers.